Abbott Laboratories (NYSE:ABT) Price Target Raised to $147.00

Abbott Laboratories (NYSE:ABT - Free Report) had its target price upped by Wells Fargo & Company from $136.00 to $147.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the healthcare product maker's stock.

Other equities analysts have also issued research reports about the stock. UBS Group increased their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. StockNews.com cut shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Argus upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Bank of America upped their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Finally, Barclays raised their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $142.59.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded up $1.92 during mid-day trading on Thursday, hitting $131.81. 5,831,824 shares of the stock were exchanged, compared to its average volume of 6,026,049. The company has a market capitalization of $228.60 billion, a P/E ratio of 17.23, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a 50-day simple moving average of $130.61 and a 200 day simple moving average of $122.08. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,449 shares of company stock worth $15,463,316. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Abbott Laboratories

Several hedge funds have recently added to or reduced their stakes in the stock. Cim LLC grew its position in Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after purchasing an additional 73 shares during the last quarter. Cape Investment Advisory Inc. increased its position in shares of Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after acquiring an additional 76 shares in the last quarter. Capital Square LLC raised its holdings in Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after acquiring an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after purchasing an additional 78 shares during the last quarter. Finally, Cyrus J. Lawrence LLC raised its stake in shares of Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock worth $107,000 after purchasing an additional 79 shares during the last quarter. 75.18% of the stock is owned by 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.