Abbott Laboratories (NYSE:ABT) Price Target Lowered to $140.00 at Barclays

Abbott Laboratories (NYSE:ABT) had its price target reduced by Barclays from $141.00 to $140.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the healthcare product maker’s stock.

Several other research analysts also recently weighed in on the stock. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Royal Bank of Canada lowered their price target on Abbott Laboratories from $128.00 to $125.00 and set an outperform rating on the stock in a research note on Thursday, April 18th. Citigroup increased their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Finally, Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of Moderate Buy and an average target price of $121.50.

Abbott Laboratories Price Performance

NYSE:ABT opened at $106.89 on Monday. The stock has a market capitalization of $185.47 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average price is $113.77 and its 200-day moving average price is $107.96.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.06%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Activity

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Abbott Laboratories

A number of institutional investors have recently modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $30,000. Finally, True Wealth Design LLC raised its position in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in 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.