Abbott Laboratories (NYSE:ABT) Given New $146.00 Price Target at UBS Group

Abbott Laboratories (NYSE:ABT) had its price objective upped by UBS Group from $143.00 to $146.00 in a research note issued to investors on Thursday, Benzinga reports. UBS Group currently has a buy rating on the healthcare product maker’s stock.

A number of other equities analysts have also issued reports on the stock. Piper Sandler boosted their target price on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday. Citigroup upped their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Mizuho boosted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays raised their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Stock Up 0.1 %

ABT stock opened at $117.90 on Thursday. The stock has a market capitalization of $205.10 billion, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a 50-day moving average of $113.76 and a two-hundred day moving average of $108.47. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at $25,617,068.19. The trade was a 0.00 % 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. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the 1st quarter worth about $30,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories during the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at about $32,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth approximately $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

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.