Abbott Laboratories’ (ABT) “Market Perform” Rating Reiterated at Leerink Swann

Leerink Swann reaffirmed their market perform rating on shares of Abbott Laboratories (NYSE:ABT) in a research report sent to investors on Friday morning.

ABT has been the topic of several other reports. Zacks Investment Research cut shares of Abbott Laboratories from a buy rating to a hold rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. started coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They issued a neutral rating and a $60.00 price objective on the stock. Royal Bank of Canada reissued a buy rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 9th. Finally, Cowen set a $68.00 price objective on shares of Abbott Laboratories and gave the company a buy rating in a research note on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $60.24.

Abbott Laboratories (NYSE:ABT) opened at $59.31 on Friday. Abbott Laboratories has a fifty-two week low of $39.25 and a fifty-two week high of $59.68. The company has a market cap of $103,235.05, a P/E ratio of 46.70, a PEG ratio of 1.89 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is presently 88.19%.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the sale, the insider now owns 102,117 shares of the company’s stock, valued at $5,608,265.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the sale, the chairman now directly owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 404,569 shares of company stock worth $22,103,095. Insiders own 0.76% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABT. Steward Partners Investment Advisory LLC lifted its holdings in shares of Abbott Laboratories by 12.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 33,149 shares of the healthcare product maker’s stock worth $1,891,000 after purchasing an additional 3,566 shares during the period. Winslow Evans & Crocker Inc. lifted its holdings in shares of Abbott Laboratories by 4.2% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 28,888 shares of the healthcare product maker’s stock worth $1,649,000 after purchasing an additional 1,176 shares during the period. Ingalls & Snyder LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth $14,258,000. TRUE Private Wealth Advisors lifted its holdings in shares of Abbott Laboratories by 134.6% during the fourth quarter. TRUE Private Wealth Advisors now owns 10,135 shares of the healthcare product maker’s stock worth $578,000 after purchasing an additional 5,814 shares during the period. Finally, Personal Capital Advisors Corp acquired a new position in shares of Abbott Laboratories during the fourth quarter worth $352,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

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About Abbott Laboratories

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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