Abbott Laboratories (NYSE:ABT) Receives $130.71 Consensus Target Price from Analysts

Abbott Laboratories (NYSE:ABT) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $130.71.

Several research analysts recently issued reports on the stock. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group boosted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock.

Institutional Trading of Abbott Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $32,000. Valued Wealth Advisors LLC raised its holdings in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Abbott Laboratories in the second quarter valued at approximately $32,000. Finally, Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.4 %

NYSE ABT opened at $114.76 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64. The stock has a market cap of $199.05 billion, a PE ratio of 34.88, a PEG ratio of 2.69 and a beta of 0.73. The firm has a 50-day simple moving average of $115.98 and a 200 day simple moving average of $111.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the business posted $1.14 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 2.06%. Abbott Laboratories’s payout ratio is presently 71.73%.

About Abbott Laboratories

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.