Abbott Laboratories (NYSE:ABT - Get Free Report) shares fell 0.2% on Tuesday . The company traded as low as $116.51 and last traded at $116.73. 504,511 shares were traded during trading, a decline of 91% from the average session volume of 5,719,069 shares. The stock had previously closed at $116.99.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ABT. Edward Jones lowered shares of Abbott Laboratories from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Citigroup increased their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, August 22nd. UBS Group upped their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Raymond James restated a "buy" rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Royal Bank of Canada boosted their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.67.
View Our Latest Analysis on Abbott Laboratories
Abbott Laboratories Price Performance
The stock has a market capitalization of $202.01 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. 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 has a 50-day simple moving average of $114.31 and a two-hundred day simple moving average of $108.56.
Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. During the same period in the previous year, the business posted $1.14 EPS. Abbott Laboratories's revenue was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.
Abbott Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories's dividend payout ratio is currently 68.54%.
Insider Buying and Selling at Abbott Laboratories
In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Institutional Trading of Abbott Laboratories
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABT. Vanguard Group Inc. grew its holdings in shares of Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker's stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares during the last quarter. Capital International Investors raised its holdings in Abbott Laboratories by 9.1% during the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker's stock worth $7,976,382,000 after buying an additional 5,882,780 shares during the period. Ameriprise Financial Inc. lifted its stake in Abbott Laboratories by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 10,675,827 shares of the healthcare product maker's stock valued at $1,103,997,000 after buying an additional 508,524 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Abbott Laboratories by 27.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,428,752 shares of the healthcare product maker's stock worth $771,940,000 after acquiring an additional 1,596,835 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Abbott Laboratories by 7.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,352,134 shares of the healthcare product maker's stock valued at $721,984,000 after acquiring an additional 452,308 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.
About Abbott Laboratories
(
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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.
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