Evercore ISI Trims Abbott Laboratories (NYSE:ABT) Target Price to $120.00

Abbott Laboratories (NYSE:ABT) had its target price cut by Evercore ISI from $125.00 to $120.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the healthcare product maker’s stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a buy rating and a $121.00 price target for the company. Raymond James reiterated a buy rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada reiterated an outperform rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Barclays decreased their target price on Abbott Laboratories from $141.00 to $140.00 and set an overweight rating for the company in a report on Monday, April 22nd. Finally, Citigroup decreased their target price on Abbott Laboratories from $128.00 to $119.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $120.18.

Abbott Laboratories Trading Up 1.7 %

Shares of ABT stock opened at $104.02 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $180.96 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.46 and a beta of 0.72. The firm has a 50-day moving average price of $104.44 and a 200 day moving average price of $109.94. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Abbott Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Abbott Laboratories by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after buying an additional 701,740 shares during the last quarter. Perigon Wealth Management LLC grew its stake in Abbott Laboratories by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after buying an additional 2,317 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new position in Abbott Laboratories during the 4th quarter worth $16,764,000. VisionPoint Advisory Group LLC grew its stake in Abbott Laboratories by 7.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after buying an additional 215 shares during the last quarter. Finally, Gradient Investments LLC grew its stake in Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after buying an additional 11,508 shares during the last quarter. 75.18% of the stock is 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.