Abbott Laboratories (NYSE:ABT) Shares Up 0.4% - Time to Buy?

Abbott Laboratories (NYSE:ABT - Get Free Report)'s share price rose 0.4% during mid-day trading on Tuesday . The company traded as high as $114.74 and last traded at $114.54. Approximately 559,696 shares changed hands during trading, a decline of 90% from the average daily volume of 5,691,976 shares. The stock had previously closed at $114.07.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Edward Jones downgraded shares of Abbott Laboratories from a "buy" rating to a "hold" rating in a research report on Tuesday, July 30th. Barclays increased their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $129.67.

Abbott Laboratories Stock Down 0.6 %

The company has a market capitalization of $197.31 billion, a P/E ratio of 35.68, a PEG ratio of 2.74 and a beta of 0.72. The firm's 50 day moving average price is $114.68 and its two-hundred day moving average price is $108.67. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 1.94%. Abbott Laboratories's dividend payout ratio is presently 68.54%.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the firm's 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 directly owns 220,059 shares of the company's stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Abbott Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $32,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after purchasing an additional 127 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.