Abbott Laboratories (NYSE:ABT) had its target price upped by Jefferies Financial Group from $80.00 to $98.00 in a report issued on Thursday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the healthcare product maker’s stock.
ABT has been the topic of several other reports. Raymond James decreased their price target on shares of SM Energy from $20.00 to $15.00 and set an outperform rating on the stock in a research note on Thursday. Royal Bank of Canada lifted their price target on shares of Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Cowen reissued a buy rating and set a $184.00 price target on shares of Union Pacific in a research note on Thursday. Morgan Stanley decreased their price target on shares of Neon Therapeutics from $19.00 to $13.00 and set an overweight rating on the stock in a research note on Tuesday, July 16th. Finally, BMO Capital Markets decreased their price target on shares of Comerica to $78.00 and set a market perform rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. Abbott Laboratories currently has a consensus rating of Buy and an average target price of $85.82.
ABT stock opened at $87.49 on Thursday. The stock has a market capitalization of $154.35 billion, a P/E ratio of 29.07, a PEG ratio of 2.46 and a beta of 1.10. Abbott Laboratories has a one year low of $62.87 and a one year high of $88.32. The business’s 50 day simple moving average is $82.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.39%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, equities analysts forecast that Abbott Laboratories will post 3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s payout ratio is 44.44%.
In related news, EVP Stephen R. Fussell sold 56,000 shares of Abbott Laboratories stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $76.00, for a total value of $4,256,000.00. Following the transaction, the executive vice president now directly owns 225,935 shares of the company’s stock, valued at $17,171,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jaime Contreras sold 82,732 shares of Abbott Laboratories stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $70.00, for a total transaction of $5,791,240.00. Following the completion of the transaction, the senior vice president now directly owns 80,722 shares in the company, valued at $5,650,540. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,198,992 shares of company stock worth $93,769,951. 0.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ABT. Front Row Advisors LLC increased its stake in shares of Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after buying an additional 348 shares during the period. Weaver Consulting Group purchased a new position in shares of Abbott Laboratories in the first quarter worth $33,000. Beacon Capital Management Inc. bought a new stake in Abbott Laboratories in the first quarter valued at $38,000. Clarfeld Financial Advisors LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at $43,000. Finally, Investors Research Corp bought a new stake in Abbott Laboratories in the first quarter valued at $44,000. 73.40% of the stock is currently owned by institutional investors.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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