Abbott Laboratories (NYSE:ABT) Price Target Cut to $140.00 by Analysts at Barclays

Abbott Laboratories (NYSE:ABT) had its price objective trimmed by Barclays from $141.00 to $140.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the healthcare product maker’s stock.

Several other analysts have also weighed in on ABT. Royal Bank of Canada decreased their price target on Abbott Laboratories from $128.00 to $125.00 and set an outperform rating on the stock in a report on Thursday, April 18th. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Citigroup upped their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, Raymond James upped their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $121.80.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $107.07 on Monday. The stock’s fifty day moving average is $114.08 and its 200 day moving average is $107.90. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a market capitalization of $185.79 billion, a PE ratio of 33.36, a PEG ratio of 2.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. Abbott Laboratories’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 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 2.05%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Abbott Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC UT raised its stake in Abbott Laboratories by 0.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after buying an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC raised its stake in Abbott Laboratories by 0.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after buying an additional 94 shares during the last quarter. Avion Wealth raised its stake in Abbott Laboratories by 19.4% in the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after buying an additional 96 shares during the last quarter. Wynn Capital LLC raised its stake in shares of Abbott Laboratories by 2.9% in the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares during the last quarter. Finally, Berger Financial Group Inc raised its stake in shares of Abbott Laboratories by 3.0% in the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after purchasing an additional 99 shares during the last quarter. 75.18% of the stock is currently 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.