Abbott Laboratories (NYSE:ABT) Given Consensus Rating of “Moderate Buy” by Brokerages

Abbott Laboratories (NYSE:ABTGet Rating) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $125.06.

ABT has been the subject of a number of research analyst reports. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 20th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Raymond James cut their price objective on shares of Abbott Laboratories from $117.00 to $109.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Jefferies Financial Group started coverage on shares of Abbott Laboratories in a research report on Wednesday, October 12th. They issued a “hold” rating and a $110.00 price target on the stock. Finally, Royal Bank of Canada dropped their price target on shares of Abbott Laboratories from $132.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP John F. Ginascol sold 11,000 shares of Abbott Laboratories stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $112.32, for a total transaction of $1,235,520.00. Following the sale, the executive vice president now owns 111,912 shares in the company, valued at $12,569,955.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $97.46, for a total transaction of $4,873,000.00. Following the completion of the transaction, the director now directly owns 6,873,500 shares of the company’s stock, valued at $669,891,310. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Ginascol sold 11,000 shares of Abbott Laboratories stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $112.32, for a total value of $1,235,520.00. Following the transaction, the executive vice president now directly owns 111,912 shares of the company’s stock, valued at $12,569,955.84. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Insight Inv LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at about $26,000. JDM Financial Group LLC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. EdgeRock Capital LLC bought a new position in shares of Abbott Laboratories in the third quarter valued at about $29,000. Johnson Midwest Financial LLC raised its holdings in shares of Abbott Laboratories by 28.7% in the third quarter. Johnson Midwest Financial LLC now owns 560 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 125 shares during the last quarter. Finally, Glassy Mountain Advisors Inc. bought a new position in shares of Abbott Laboratories in the fourth quarter valued at about $44,000. 72.93% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT opened at $112.53 on Friday. Abbott Laboratories has a one year low of $93.25 and a one year high of $130.93. The company has a 50-day moving average of $108.75 and a two-hundred day moving average of $105.79. The stock has a market cap of $196.20 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 5.05 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 1.43.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $2.04 dividend on an annualized basis and a yield of 1.81%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.47. Abbott Laboratories’s payout ratio is currently 46.05%.

Abbott Laboratories Company Profile

(Get Rating)

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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Abbott Laboratories (NYSE:ABT) Given Consensus Rating of “Moderate Buy” by Brokerages

Abbott Laboratories (NYSE:ABTGet Rating) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $125.06.

Several research analysts have commented on the stock. BTIG Research decreased their target price on shares of Abbott Laboratories from $126.00 to $123.00 and set a “buy” rating for the company in a report on Monday, October 17th. Jefferies Financial Group initiated coverage on shares of Abbott Laboratories in a report on Wednesday, October 12th. They issued a “hold” rating and a $110.00 target price for the company. Citigroup increased their price target on shares of Abbott Laboratories from $114.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 12th. Barclays increased their price target on shares of Abbott Laboratories from $114.00 to $122.00 in a research report on Wednesday, January 4th. Finally, Evercore ISI reduced their price target on shares of Abbott Laboratories to $110.00 in a research report on Thursday, October 20th.

Abbott Laboratories Stock Performance

Shares of ABT opened at $112.53 on Friday. Abbott Laboratories has a one year low of $93.25 and a one year high of $130.93. The company has a 50-day moving average of $108.75 and a two-hundred day moving average of $105.79. The stock has a market cap of $196.20 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 5.05 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 1.43.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be given a $0.51 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, January 12th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.81%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 46.05%.

Insider Activity

In other news, EVP John F. Ginascol sold 11,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $112.32, for a total value of $1,235,520.00. Following the sale, the executive vice president now owns 111,912 shares in the company, valued at $12,569,955.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $97.46, for a total value of $4,873,000.00. Following the sale, the director now owns 6,873,500 shares in the company, valued at $669,891,310. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John F. Ginascol sold 11,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $112.32, for a total transaction of $1,235,520.00. Following the completion of the sale, the executive vice president now owns 111,912 shares in the company, valued at approximately $12,569,955.84. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Abbott Laboratories

Institutional investors have recently bought and sold shares of the business. Country Club Bank GFN boosted its stake in Abbott Laboratories by 2.0% during the third quarter. Country Club Bank GFN now owns 18,236 shares of the healthcare product maker’s stock worth $1,793,000 after buying an additional 350 shares in the last quarter. First Financial Corp IN boosted its stake in Abbott Laboratories by 1.7% during the third quarter. First Financial Corp IN now owns 18,541 shares of the healthcare product maker’s stock worth $1,794,000 after buying an additional 317 shares in the last quarter. Mitchell Capital Management Co. boosted its stake in Abbott Laboratories by 2.0% during the second quarter. Mitchell Capital Management Co. now owns 22,962 shares of the healthcare product maker’s stock worth $2,495,000 after buying an additional 446 shares in the last quarter. Kesler Norman & Wride LLC boosted its stake in Abbott Laboratories by 3.2% during the third quarter. Kesler Norman & Wride LLC now owns 42,554 shares of the healthcare product maker’s stock worth $4,118,000 after buying an additional 1,301 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new position in shares of Abbott Laboratories during the second quarter valued at $2,866,000. Institutional investors and hedge funds own 72.93% of the company’s stock.

Abbott Laboratories Company Profile

(Get Rating)

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

Read More

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.