Investment Analysts’ Weekly Ratings Changes for Abbott Laboratories (ABT)

Abbott Laboratories (NYSE: ABT) recently received a number of ratings updates from brokerages and research firms:

• 10/8/2024 – Abbott Laboratories had its price target raised by analysts at Royal Bank of Canada from $125.00 to $130.00. They now have an “outperform” rating on the stock.
• 10/8/2024 – Abbott Laboratories is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $130.00 price target on the stock.
• 10/1/2024 – Abbott Laboratories had its price target raised by analysts at Evercore ISI from $120.00 to $124.00. They now have an “outperform” rating on the stock.
• 9/26/2024 – Abbott Laboratories had its “hold” rating reaffirmed by analysts at Jefferies Financial Group Inc.. They now have a $120.00 price target on the stock.
• 9/19/2024 – Abbott Laboratories is now covered by analysts at Piper Sandler Companies. They set an “overweight” rating and a $131.00 price target on the stock.
• 9/19/2024 – Abbott Laboratories is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $131.00 price target on the stock.
• 8/22/2024 – Abbott Laboratories had its price target raised by analysts at Citigroup Inc. from $119.00 to $127.00. They now have a “buy” rating on the stock.

Abbott Laboratories Trading Up 0.4 %

NYSE:ABT traded up $0.50 during trading hours on Friday, hitting $116.12. 3,467,468 shares of the stock were exchanged, compared to its average volume of 5,722,701. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company’s 50 day moving average is $113.04 and its two-hundred day moving average is $108.31. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $202.01 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 1.89%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Abbott Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of ABT. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories in the second quarter worth $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $29,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at about $29,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $31,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

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.