Abbott Laboratories (ABT) Receives Average Rating of “Buy” from Brokerages
Abbott Laboratories (NYSE:ABT) has been assigned a consensus rating of “Buy” from the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $80.51.
ABT has been the topic of several recent research reports. Citigroup lowered Abbott Laboratories from a “neutral” rating to a “sell” rating and cut their target price for the company from $72.00 to $68.00 in a report on Wednesday, January 2nd. Morgan Stanley raised their target price on Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Gabelli restated a “buy” rating on shares of Abbott Laboratories in a report on Wednesday, January 2nd. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, January 24th. Finally, Argus raised their target price on Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a report on Friday, January 25th. They noted that the move was a valuation call.
In other news, SVP Jared Watkin sold 1,391 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $108,498.00. Following the transaction, the senior vice president now directly owns 75,926 shares in the company, valued at $5,922,228. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph J. Manning sold 5,613 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of the transaction, the insider now owns 56,029 shares in the company, valued at $4,458,787.82. The disclosure for this sale can be found here. Insiders sold 280,021 shares of company stock worth $20,485,856 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.
NYSE ABT traded up $1.04 during trading on Tuesday, hitting $73.92. 9,712,196 shares of the company traded hands, compared to its average volume of 5,503,201. Abbott Laboratories has a 12 month low of $56.81 and a 12 month high of $80.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 1.20. The firm has a market cap of $129.84 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.91% and a net margin of 8.53%. The company had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 3.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.73%. Abbott Laboratories’s payout ratio is presently 44.44%.
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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