Abbott Laboratories (NYSE:ABT) Shares Down 0.1%

Abbott Laboratories (NYSE:ABT) shares dropped 0.1% during trading on Friday . The company traded as low as $113.43 and last traded at $114.03. Approximately 1,831,278 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 5,801,484 shares. The stock had previously closed at $114.15.

Wall Street Analyst Weigh In

ABT has been the topic of a number of analyst reports. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI dropped their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Piper Sandler assumed coverage on shares of Abbott Laboratories in a report on Thursday. They issued an “overweight” rating and a $131.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Abbott Laboratories Stock Performance

The firm has a market capitalization of $197.88 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $110.32 and its two-hundred day simple moving average is $108.64.

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

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Abbott Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth about $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories in the 4th quarter worth about $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth about $30,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories in the 2nd quarter worth about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

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.