Abbott Laboratories (NYSE:ABT) Price Target Increased to $133.00 by Analysts at Piper Sandler

Abbott Laboratories (NYSE:ABT) had its price target raised by Piper Sandler from $131.00 to $133.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the healthcare product maker’s stock.

A number of other brokerages have also recently commented on ABT. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Piper Sandler Companies initiated coverage on Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and twelve 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 a consensus price target of $129.67.

Abbott Laboratories Trading Up 0.1 %

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

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

Abbott Laboratories Announces Dividend

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

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Trading of Abbott Laboratories

A number of large investors have recently made changes to their positions in the business. Signal Advisors Wealth LLC lifted its position in Abbott Laboratories by 38.8% in the first quarter. Signal Advisors Wealth LLC now owns 3,490 shares of the healthcare product maker’s stock worth $397,000 after buying an additional 976 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Abbott Laboratories by 9.4% in the first quarter. Wedmont Private Capital now owns 13,224 shares of the healthcare product maker’s stock valued at $1,487,000 after acquiring an additional 1,132 shares during the period. KMG Fiduciary Partners LLC boosted its stake in shares of Abbott Laboratories by 0.8% during the 1st quarter. KMG Fiduciary Partners LLC now owns 16,378 shares of the healthcare product maker’s stock worth $1,862,000 after purchasing an additional 132 shares during the period. SOA Wealth Advisors LLC. grew its holdings in Abbott Laboratories by 10.1% during the 1st quarter. SOA Wealth Advisors LLC. now owns 1,104 shares of the healthcare product maker’s stock valued at $125,000 after purchasing an additional 101 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in Abbott Laboratories by 4.8% in the 1st quarter. Park Avenue Securities LLC now owns 62,287 shares of the healthcare product maker’s stock worth $7,080,000 after purchasing an additional 2,840 shares during the period. 75.18% of the stock is currently owned by institutional investors.

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.