Abbott Laboratories (NYSE:ABT) had its price target cut by JPMorgan Chase & Co. from to in a research report released on Thursday.
Other equities analysts have also issued reports about the stock. UBS Group boosted their price objective on shares of Abbott Laboratories from $99.00 to $105.00 and gave the stock a buy rating in a report on Thursday. Credit Suisse Group boosted their price objective on shares of Abbott Laboratories from $95.00 to $98.00 and gave the stock an outperform rating in a report on Thursday, October 17th. William Blair restated an underperform rating on shares of Abbott Laboratories in a report on Thursday, October 17th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $93.00 to $101.00 and gave the stock an overweight rating in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $95.00 to $104.00 and gave the stock a buy rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Abbott Laboratories has a consensus rating of Buy and an average target price of $95.20.
NYSE ABT traded down $0.33 during mid-day trading on Thursday, reaching $90.40. The stock had a trading volume of 4,218,653 shares, compared to its average volume of 5,909,104. Abbott Laboratories has a 1 year low of $68.80 and a 1 year high of $92.45. The stock has a market cap of $162.45 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a fifty day moving average price of $86.80 and a 200 day moving average price of $84.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.12.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.34%. The company had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Abbott Laboratories will post 3.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $1.44 annualized dividend and a yield of 1.59%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio is currently 44.44%.
Institutional investors have recently modified their holdings of the stock. 1 North Wealth Services LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth $38,000. Marquette Asset Management LLC raised its position in shares of Abbott Laboratories by 173.4% during the 3rd quarter. Marquette Asset Management LLC now owns 473 shares of the healthcare product maker’s stock valued at $40,000 after buying an additional 300 shares in the last quarter. Canton Hathaway LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $42,000. Corbenic Partners LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $42,000. Finally, Manchester Financial Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $52,000. 73.61% of the stock is owned by institutional investors.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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