Abbott Laboratories (NYSE:ABT) Trading 0.2% Higher

Abbott Laboratories (NYSE:ABT)’s stock price rose 0.2% on Friday . The company traded as high as $111.60 and last traded at $111.11. Approximately 918,735 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 6,009,779 shares. The stock had previously closed at $110.94.

Analyst Upgrades and Downgrades

ABT has been the subject of several research reports. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup lowered their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI cut their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.00.

Abbott Laboratories Trading Up 0.0 %

The business’s 50-day moving average price is $105.40 and its two-hundred day moving average price is $108.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. The company has a market capitalization of $193.05 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. Research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Institutional Trading of Abbott Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of ABT. International Assets Investment Management LLC increased its stake in shares of Abbott Laboratories by 28.4% in the fourth quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock valued at $1,349,000 after buying an additional 2,714 shares during the period. TRUE Private Wealth Advisors boosted its stake in Abbott Laboratories by 16.0% during the 4th quarter. TRUE Private Wealth Advisors now owns 6,010 shares of the healthcare product maker’s stock valued at $662,000 after purchasing an additional 830 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Abbott Laboratories by 6.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 162,019 shares of the healthcare product maker’s stock valued at $17,834,000 after acquiring an additional 10,093 shares in the last quarter. Pacific Wealth Management lifted its position in shares of Abbott Laboratories by 0.5% during the fourth quarter. Pacific Wealth Management now owns 27,110 shares of the healthcare product maker’s stock valued at $2,984,000 after purchasing an additional 138 shares in the last quarter. Finally, Twin Capital Management Inc. increased its stake in Abbott Laboratories by 7.3% in the 4th quarter. Twin Capital Management Inc. now owns 42,716 shares of the healthcare product maker’s stock valued at $4,702,000 after buying an additional 2,889 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

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.