Barclays Reaffirms “Buy” Rating for Abbott Laboratories (ABT)

Barclays reissued their buy rating on shares of Abbott Laboratories (NYSE:ABT) in a report published on Monday. Barclays currently has a $66.00 price target on the healthcare product maker’s stock.

Several other research analysts have also recently weighed in on ABT. Zacks Investment Research upgraded Abbott Laboratories from a hold rating to a buy rating and set a $58.00 price target for the company in a research report on Friday, September 22nd. Cowen reissued a buy rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Wells Fargo & Co raised their price objective on Abbott Laboratories from $57.00 to $64.00 and gave the company an outperform rating in a report on Thursday, September 28th. BMO Capital Markets reissued a hold rating and issued a $53.00 price objective on shares of Abbott Laboratories in a report on Monday, October 2nd. Finally, Royal Bank of Canada reissued a buy rating and issued a $55.00 price objective on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories has an average rating of Buy and an average target price of $60.24.

Shares of Abbott Laboratories (NYSE ABT) traded down $0.45 during mid-day trading on Monday, reaching $58.38. The company had a trading volume of 639,350 shares, compared to its average volume of 6,442,114. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The stock has a market capitalization of $101,530.00, a PE ratio of 48.25, a P/E/G ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a 52 week low of $39.25 and a 52 week high of $59.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the business earned $0.59 earnings per share. research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.28 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 87.60%.

In other news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the completion of the sale, the insider now directly owns 25,618 shares in the company, valued at $1,437,682.16. The disclosure for this sale can be found here. Insiders sold 501,172 shares of company stock worth $27,533,150 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

Several large investors have recently modified their holdings of ABT. Capital Research Global Investors boosted its stake in shares of Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after acquiring an additional 14,918,038 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Abbott Laboratories by 3,373.9% in the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock worth $382,779,000 after acquiring an additional 7,647,798 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after acquiring an additional 3,241,063 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after buying an additional 2,606,404 shares during the last quarter. Finally, Boston Partners boosted its stake in Abbott Laboratories by 28.1% during the second quarter. Boston Partners now owns 10,516,502 shares of the healthcare product maker’s stock worth $511,207,000 after buying an additional 2,304,467 shares during the last quarter. 71.15% of the stock is currently owned by hedge funds and other institutional investors.

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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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