Abbott Laboratories (NYSE:ABT) Stock Price Up 0.3%

Abbott Laboratories (NYSE:ABT)’s stock price shot up 0.3% on Monday . The company traded as high as $112.97 and last traded at $112.78. 536,278 shares were traded during trading, a decline of 91% from the average session volume of 5,773,461 shares. The stock had previously closed at $112.43.

Wall Street Analysts Forecast Growth

ABT has been the topic of several analyst reports. Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays lifted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler Companies started coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective for the company. Piper Sandler began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target on the stock. Finally, Citigroup raised their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Abbott Laboratories Trading Up 0.2 %

The stock has a market capitalization of $196.06 billion, a P/E ratio of 35.13, a P/E/G ratio of 2.86 and a beta of 0.72. The firm’s 50 day moving average price is $111.57 and its 200 day moving average price is $108.19. 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 quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The stock was 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 approximately $25,617,068.19. The sale was disclosed in a document filed 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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gilbert & Cook Inc. boosted its stake in shares of Abbott Laboratories by 17.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,556 shares of the healthcare product maker’s stock worth $832,000 after buying an additional 1,120 shares during the last quarter. Accretive Wealth Partners LLC increased its holdings in shares of Abbott Laboratories by 1.2% during the 4th quarter. Accretive Wealth Partners LLC now owns 13,322 shares of the healthcare product maker’s stock valued at $1,466,000 after purchasing an additional 152 shares in the last quarter. Aveo Capital Partners LLC boosted its holdings in Abbott Laboratories by 13.3% during the fourth quarter. Aveo Capital Partners LLC now owns 3,525 shares of the healthcare product maker’s stock worth $388,000 after buying an additional 413 shares in the last quarter. Prudent Man Advisors LLC increased its holdings in Abbott Laboratories by 8.5% in the fourth quarter. Prudent Man Advisors LLC now owns 15,884 shares of the healthcare product maker’s stock valued at $1,748,000 after buying an additional 1,251 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Abbott Laboratories by 2.3% during the 4th quarter. Jones Financial Companies Lllp now owns 183,228 shares of the healthcare product maker’s stock valued at $20,168,000 after acquiring an additional 4,100 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

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.