Abbott Laboratories (NYSE:ABT - Get Free Report) has received a consensus rating of "Moderate Buy" from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $130.71.
A number of equities analysts have issued reports on ABT shares. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an "overweight" rating and a $131.00 target price for the company. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Morgan Stanley increased their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st.
Read Our Latest Report on ABT
Institutional Trading of Abbott Laboratories
Institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the 3rd quarter worth about $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter valued at $32,000. Finally, Highline Wealth Partners LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 75.18% of the company's stock.
Abbott Laboratories Stock Performance
Shares of NYSE:ABT traded up $1.81 on Friday, hitting $114.23. 11,945,041 shares of the company were exchanged, compared to its average volume of 5,655,098. The firm has a market capitalization of $198.13 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $121.64. The stock's 50 day moving average price is $116.08 and its 200 day moving average price is $111.42.
Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 4.67 EPS for the current 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 given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.07%. Abbott Laboratories's dividend payout ratio (DPR) is 71.73%.
Abbott Laboratories Company Profile
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Get Free ReportAbbott 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.
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