Abbott Laboratories (NYSE:ABT) Price Target Raised to $140.00

Abbott Laboratories (NYSE:ABT) had its price objective raised by Mizuho from $130.00 to $140.00 in a research note released on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the healthcare product maker’s stock.

A number of other analysts have also recently commented on the company. Evercore ISI lifted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Raymond James Financial lifted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Leerink Partners assumed coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Thursday, April 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.47.

Abbott Laboratories Trading Up 2.7%

Shares of NYSE:ABT opened at $123.81 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $215.41 billion, a PE ratio of 15.52, a P/E/G ratio of 2.29 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.92 and a 12-month high of $141.23. The business’s fifty day simple moving average is $132.98 and its 200-day simple moving average is $129.45.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Abbott Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of ABT. Cim LLC increased its position in shares of Abbott Laboratories by 0.4% during the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after purchasing an additional 73 shares in the last quarter. Capital Square LLC increased its position in shares of Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after purchasing an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC increased its position in shares of Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after purchasing an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC increased its position in shares of Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after purchasing an additional 78 shares in the last quarter. Finally, Cyrus J. Lawrence LLC increased its position in shares of Abbott Laboratories by 9.0% during the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after purchasing an additional 79 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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.