Abbott Laboratories (NYSE:ABT) Shares Up 0.3%

Abbott Laboratories (NYSE:ABT)’s share price rose 0.3% during trading on Monday . The stock traded as high as $114.02 and last traded at $114.00. Approximately 935,544 shares changed hands during trading, a decline of 84% from the average daily volume of 5,811,093 shares. The stock had previously closed at $113.70.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Piper Sandler Companies 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. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Evercore ISI lowered 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. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.33.

Abbott Laboratories Trading Up 0.8 %

The stock has a market capitalization of $199.43 billion, a PE ratio of 35.72, a P/E/G ratio of 2.90 and a beta of 0.72. The company’s 50 day moving average price is $110.50 and its two-hundred day moving average price is $108.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter last year, the business posted $1.08 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, 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. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Activity

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Abbott Laboratories

Large investors have recently made changes to their positions in the stock. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter worth approximately $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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.