Abbott Laboratories (NYSE:ABT) Shares Down 0.4%

Abbott Laboratories (NYSE:ABT) traded down 0.4% during mid-day trading on Tuesday . The company traded as low as $112.80 and last traded at $113.56. 778,338 shares traded hands during trading, a decline of 87% from the average session volume of 5,770,503 shares. The stock had previously closed at $114.01.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABT. 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. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Piper Sandler began coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Jefferies Financial Group restated a “hold” rating and issued a $120.00 target price on shares of Abbott Laboratories in a research note on Thursday, September 26th. Finally, Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

Abbott Laboratories Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The company’s fifty day moving average is $111.78 and its 200-day moving average is $108.16. The stock has a market cap of $197.81 billion, a PE ratio of 35.48, a PEG ratio of 2.86 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its 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 net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter last year, the company posted $1.08 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Abbott Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the first quarter worth about $30,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories during the second quarter worth about $32,000. 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.