Abbott Laboratories (NYSE:ABT) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Abbott Laboratories (NYSE:ABT - Free Report) had its price target upped by Jefferies Financial Group from $135.00 to $137.00 in a research note issued to investors on Thursday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the healthcare product maker's stock.

A number of other research analysts also recently issued reports on ABT. Barclays restated an "overweight" rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. The Goldman Sachs Group raised their target price on Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. StockNews.com downgraded Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Finally, Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.59.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $1.30 on Thursday, hitting $131.00. 10,459,999 shares of the company were exchanged, compared to its average volume of 6,026,742. The firm has a market capitalization of $227.20 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. 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 $141.23. The stock's 50 day moving average price is $130.62 and its 200 day moving average price is $121.89.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly 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 during 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 predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is 30.85%.

Insider Buying and Selling

In other news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company's stock, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Shroff sold 562 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares in the company, valued at approximately $4,417,294.90. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,449 shares of company stock worth $15,463,316. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Abbott Laboratories

Hedge funds have recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the 4th quarter worth $26,000. NewSquare Capital LLC boosted its stake in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Institutional investors and hedge funds 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.