Investment Analysts’ Weekly Ratings Changes for Abbott Laboratories (ABT)

Several brokerages have updated their recommendations and price targets on shares of Abbott Laboratories (NYSE: ABT) in the last few weeks:

• 10/17/2024 – Abbott Laboratories had its price target raised by analysts at Piper Sandler from $131.00 to $133.00. They now have an “overweight” rating on the stock.
• 10/17/2024 – Abbott Laboratories had its price target raised by analysts at Sanford C. Bernstein from $133.00 to $138.00. They now have an “outperform” rating on the stock.
• 10/17/2024 – Abbott Laboratories had its price target raised by analysts at Mizuho from $115.00 to $130.00. They now have a “neutral” rating on the stock.
• 10/17/2024 – Abbott Laboratories had its price target raised by analysts at Jefferies Financial Group Inc. from $120.00 to $125.00. They now have a “hold” rating on the stock.
• 10/17/2024 – Abbott Laboratories had its price target raised by analysts at Morgan Stanley from $107.00 to $117.00. They now have an “equal weight” rating on the stock.
• 10/17/2024 – Abbott Laboratories had its price target raised by analysts at UBS Group AG from $143.00 to $146.00. They now have a “buy” rating on the stock.
• 10/14/2024 – Abbott Laboratories had its “buy” rating reaffirmed by analysts at Raymond James. They now have a $129.00 price target on the stock, up previously from $122.00.
• 10/8/2024 – Abbott Laboratories had its price target raised by analysts at Royal Bank of Canada from $125.00 to $130.00. They now have an “outperform” rating on the stock.
• 10/8/2024 – Abbott Laboratories is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $130.00 price target on the stock.
• 10/1/2024 – Abbott Laboratories had its price target raised by analysts at Evercore ISI from $120.00 to $124.00. They now have an “outperform” rating on the stock.
• 9/26/2024 – Abbott Laboratories had its “hold” rating reaffirmed by analysts at Jefferies Financial Group Inc.. They now have a $120.00 price target on the stock.
• 9/19/2024 – Abbott Laboratories is now covered by analysts at Piper Sandler Companies. They set an “overweight” rating and a $131.00 price target on the stock.
• 9/19/2024 – Abbott Laboratories is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $131.00 price target on the stock.

Abbott Laboratories Trading Down 0.9 %

ABT opened at $113.39 on Friday. Abbott Laboratories has a fifty-two week low of $92.43 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a market capitalization of $197.29 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.74 and a beta of 0.72. The company’s 50 day moving average price is $114.82 and its two-hundred day moving average price is $108.78.

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

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 66.87%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Insight Folios Inc lifted its position in shares of Abbott Laboratories by 3.3% during the 3rd quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after acquiring an additional 87 shares during the period. Boltwood Capital Management lifted its position in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after acquiring an additional 89 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after acquiring an additional 89 shares during the period. Silicon Valley Capital Partners lifted its position in shares of Abbott Laboratories by 8.7% during the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after acquiring an additional 89 shares during the period. Finally, Atwood & Palmer Inc. raised its holdings in Abbott Laboratories by 6.5% during the third quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock worth $169,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

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.