Abbott Laboratories (NYSE:ABT) Price Target Raised to $145.00

Abbott Laboratories (NYSE:ABT) had its price objective lifted by Stifel Nicolaus from $135.00 to $145.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the healthcare product maker’s stock.

A number of other research analysts have also recently commented on the company. Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Evercore ISI lifted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, UBS Group increased their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four 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 stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Abbott Laboratories Stock Up 1.0 %

Shares of NYSE:ABT opened at $131.00 on Thursday. The company has a market capitalization of $227.20 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a fifty day moving average price of $130.62 and a two-hundred day moving average price of $121.89.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Insider Activity

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. The trade was a 55.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,449 shares of company stock valued at $15,463,316. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Abbott Laboratories

Several hedge funds have recently bought and sold shares of ABT. 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. raised its stake in shares of Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares during the last quarter. Capital Square LLC raised its position 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 buying an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC raised its holdings in shares of Abbott Laboratories by 2.1% during the first 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 Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after buying an additional 79 shares during the last quarter. Institutional investors 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.