Abbott Laboratories (ABT) Downgraded by BidaskClub

BidaskClub cut shares of Abbott Laboratories (NYSE:ABT) from a strong-buy rating to a buy rating in a research note issued to investors on Monday, July 31st.

A number of other brokerages have also recently commented on ABT. Zacks Investment Research cut shares of Abbott Laboratories from a hold rating to a sell rating in a report on Monday, April 10th. Wells Fargo & Company reaffirmed an outperform rating and issued a $54.00 target price (up from $47.50) on shares of Abbott Laboratories in a report on Friday, June 30th. TheStreet raised shares of Abbott Laboratories from a c+ rating to a b rating in a research note on Monday, July 3rd. Barclays PLC reissued an overweight rating and issued a $57.00 price objective (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, BMO Capital Markets restated a hold rating and set a $48.00 target price on shares of Abbott Laboratories in a research report on Tuesday, July 11th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $51.93.

Abbott Laboratories (NYSE:ABT) traded up 1.00% during mid-day trading on Monday, reaching $48.54. 3,978,902 shares of the company’s stock traded hands. The firm has a market cap of $84.34 billion, a price-to-earnings ratio of 67.98 and a beta of 1.07. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13. The firm’s 50-day moving average price is $49.09 and its 200 day moving average price is $45.65.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post $2.49 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

In other Abbott Laboratories news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $46.00, for a total value of $9,041,300.00. Following the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,188,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jared Watkin sold 552 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the transaction, the insider now directly owns 47,090 shares in the company, valued at $2,258,907.30. The disclosure for this sale can be found here. Insiders have sold 218,702 shares of company stock worth $10,149,733 over the last 90 days. 0.76% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanders Morris Harris LLC raised its position in shares of Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after buying an additional 16 shares during the period. St. Louis Trust Co raised its position in shares of Abbott Laboratories by 0.4% in the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after buying an additional 20 shares during the period. Janney Capital Management LLC raised its position in shares of Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after buying an additional 26 shares during the period. Alpha Windward LLC raised its position in shares of Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after buying an additional 30 shares during the period. Finally, Lakeview Capital Partners LLC raised its position in shares of Abbott Laboratories by 0.6% in the second quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after buying an additional 33 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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