Abbott Laboratories (NYSE:ABT) Price Target Raised to $157.00 at The Goldman Sachs Group

Abbott Laboratories (NYSE:ABT) had its target price boosted by The Goldman Sachs Group from $153.00 to $157.00 in a report published on Wednesday morning,MarketScreener reports. They currently have a buy rating on the healthcare product maker’s stock.

Several other brokerages also recently commented on ABT. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. BTIG Research reduced their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, July 18th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Evercore ISI lifted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Finally, Raymond James Financial reduced their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.39.

Abbott Laboratories Stock Down 0.3%

NYSE:ABT opened at $133.53 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock’s 50 day moving average price is $131.63 and its two-hundred day moving average price is $131.24. The firm has a market capitalization of $232.39 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities research analysts expect that Abbott Laboratories will post 5.14 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 Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Institutional Trading of Abbott Laboratories

Several institutional investors and hedge funds have recently modified their holdings of ABT. IMG Wealth Management Inc. lifted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $30,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $32,000. 75.18% of the stock is currently owned by institutional investors.

About Abbott Laboratories

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.