Abbott Laboratories (NYSE:ABT) Reaches New 12-Month High at $120.45

Abbott Laboratories (NYSE:ABTGet Free Report)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $120.45 and last traded at $119.26, with a volume of 359517 shares. The stock had previously closed at $120.05.

Analyst Ratings Changes

Several equities research analysts recently commented on ABT shares. Citigroup boosted their price target on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Raymond James boosted their price target on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Wells Fargo & Company upped their target price on Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $128.00 target price on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $120.00.

Get Our Latest Analysis on ABT

Abbott Laboratories Stock Down 0.5 %

The business has a 50 day moving average of $113.14 and a 200 day moving average of $104.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The firm has a market capitalization of $207.20 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 2.88 and a beta of 0.75.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.19 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. Abbott Laboratories’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. On average, equities analysts anticipate that Abbott Laboratories will post 4.61 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.84%. Abbott Laboratories’s payout ratio is 67.48%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 15,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,022,916. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 15,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $108.00, for a total value of $1,620,000.00. Following the sale, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,022,916. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,000 shares of company stock worth $7,901,250. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Abbott Laboratories

Several large investors have recently made changes to their positions in ABT. Halpern Financial Inc. bought a new stake in shares of Abbott Laboratories during the third quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $28,000. Cornerstone Planning Group LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth $28,000. Signature Resources Capital Management LLC bought a new position in Abbott Laboratories in the fourth quarter valued at about $29,000. Finally, Wahed Invest LLC boosted its holdings in Abbott Laboratories by 888.9% in the fourth quarter. Wahed Invest LLC now owns 270,163 shares of the healthcare product maker’s stock valued at $30,000 after acquiring an additional 242,843 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About Abbott Laboratories

(Get Free Report)

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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