Abbott Laboratories (NYSE:ABT) Trading Down 0.5%

Abbott Laboratories (NYSE:ABT)’s stock price dropped 0.5% during trading on Tuesday . The stock traded as low as $113.46 and last traded at $114.29. Approximately 837,057 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 5,806,779 shares. The stock had previously closed at $114.81.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Evercore ISI decreased their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup boosted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Piper Sandler started coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

Abbott Laboratories Trading Down 1.3 %

The firm’s 50-day simple moving average is $110.74 and its 200-day simple moving average is $108.41. The firm has a market capitalization of $197.22 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period last year, the company earned $1.08 EPS. Abbott Laboratories’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Anchor Investment Management LLC increased its stake in shares of Abbott Laboratories by 0.4% in the 2nd quarter. Anchor Investment Management LLC now owns 52,728 shares of the healthcare product maker’s stock worth $5,479,000 after acquiring an additional 232 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Abbott Laboratories by 920.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 386,000 shares of the healthcare product maker’s stock worth $40,109,000 after purchasing an additional 348,170 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its stake in shares of Abbott Laboratories by 6.8% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 12,193 shares of the healthcare product maker’s stock valued at $1,267,000 after purchasing an additional 774 shares in the last quarter. SS&H Financial Advisors Inc. boosted its position in shares of Abbott Laboratories by 9.1% in the 2nd quarter. SS&H Financial Advisors Inc. now owns 17,633 shares of the healthcare product maker’s stock worth $1,832,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Cannon Financial Strategists Inc. purchased a new stake in shares of Abbott Laboratories in the 2nd quarter worth approximately $453,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.