Abbott Laboratories (NYSE:ABT) Price Target Raised to $136.00 at Evercore ISI

Abbott Laboratories (NYSE:ABT) had its price objective raised by Evercore ISI to $136.00 in a report released on Thursday morning,Stock Target Advisor reports. Evercore ISI currently has a buy rating on the healthcare product maker’s stock.

A number of other research analysts also recently commented on ABT. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Jefferies Financial Group lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. UBS Group upped their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays increased their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $113.44 on Thursday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $196.76 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The business’s fifty day moving average price is $115.54 and its 200 day moving average price is $112.07.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 71.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Syntax Research Inc. acquired a new stake in Abbott Laboratories in the third quarter valued at $2,280,000. Lord Abbett & CO. LLC boosted its holdings in Abbott Laboratories by 6.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,710,023 shares of the healthcare product maker’s stock worth $194,960,000 after buying an additional 109,500 shares in the last quarter. Legacy Wealth Management LLC MS grew its position in Abbott Laboratories by 0.7% during the third quarter. Legacy Wealth Management LLC MS now owns 26,015 shares of the healthcare product maker’s stock worth $2,966,000 after buying an additional 186 shares during the period. Copley Financial Group Inc. purchased a new position in Abbott Laboratories in the third quarter valued at about $648,000. Finally, Fidelity D & D Bancorp Inc. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $269,000. Institutional investors and hedge funds 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.