Abbott Laboratories (NYSE:ABT) Earns “Hold” Rating from Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of Abbott Laboratories (NYSE:ABT) in a research note published on Thursday morning, Benzinga reports. They currently have a $120.00 target price on the healthcare product maker’s stock.

ABT has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a buy rating and a $121.00 target price for the company. Barclays lifted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an overweight rating in a research note on Monday, July 29th. Piper Sandler assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an overweight rating and a $131.00 price target on the stock. Edward Jones downgraded shares of Abbott Laboratories from a buy rating to a hold rating in a report on Tuesday, July 30th. Finally, Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an overweight rating and a $131.00 price target for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $124.00.

Abbott Laboratories Stock Performance

ABT opened at $112.43 on Thursday. The company has a 50 day simple moving average of $111.57 and a two-hundred day simple moving average of $108.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market cap of $195.59 billion, a P/E ratio of 35.02, a PEG ratio of 2.86 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the business posted $1.08 EPS. Abbott Laboratories’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated 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 in the company, valued at $25,617,068.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Abbott Laboratories

A number of large investors have recently made changes to their positions in the stock. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth $30,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the second quarter worth about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

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.