Abbott Laboratories (NYSE:ABT) Given Consensus Rating of “Buy” by Analysts

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Abbott Laboratories (NYSE:ABT) has been assigned a consensus rating of “Buy” from the nineteen brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $86.54.

ABT has been the subject of a number of research analyst reports. Cowen increased their price target on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James decreased their price target on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday. Jefferies Financial Group increased their price target on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, BMO Capital Markets increased their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th.

In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $86.39, for a total value of $1,987,661.12. Following the completion of the sale, the senior vice president now directly owns 104,228 shares of the company’s stock, valued at $9,004,256.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph J. Manning sold 47,226 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the sale, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The disclosure for this sale can be found here. Insiders sold 181,497 shares of company stock valued at $15,701,810 over the last three months. Company insiders own 0.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Abbott Laboratories by 1.5% in the second quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock worth $12,474,801,000 after acquiring an additional 2,262,152 shares during the period. BlackRock Inc. boosted its holdings in shares of Abbott Laboratories by 1.8% in the second quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock worth $10,640,833,000 after acquiring an additional 2,199,601 shares during the period. FMR LLC boosted its holdings in shares of Abbott Laboratories by 0.3% in the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock worth $1,904,774,000 after acquiring an additional 65,260 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Abbott Laboratories by 0.9% in the second quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock worth $1,431,723,000 after acquiring an additional 149,307 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Abbott Laboratories by 7,888.6% in the second quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock worth $1,040,985,000 after acquiring an additional 12,222,999 shares during the period. 73.76% of the stock is owned by institutional investors and hedge funds.

Shares of ABT stock traded up $2.16 during trading hours on Tuesday, reaching $81.98. The company had a trading volume of 6,239,366 shares, compared to its average volume of 5,346,797. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. The company has a market cap of $140.74 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The business has a fifty day simple moving average of $82.92 and a 200-day simple moving average of $81.71. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. Abbott Laboratories’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. On average, equities research analysts expect that Abbott Laboratories will post 3.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

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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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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