Several other brokerages have also recently commented on ABT. Barclays reaffirmed a buy rating and issued a $66.00 target price on shares of Abbott Laboratories in a research report on Monday, January 8th. Royal Bank of Canada reaffirmed a buy rating and issued a $65.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $64.00 target price for the company in a research report on Tuesday, January 2nd. Evercore ISI began coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an outperform rating and a $64.00 target price for the company. Finally, Morgan Stanley raised Abbott Laboratories from an equal weight rating to an overweight rating and set a $67.00 target price for the company in a research report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $60.24.
Shares of Abbott Laboratories (NYSE:ABT) traded up $0.24 during trading on Friday, hitting $59.31. The stock had a trading volume of 7,362,958 shares, compared to its average volume of 6,410,000. The firm has a market capitalization of $103,240.00, a PE ratio of 49.02, a PEG ratio of 1.88 and a beta of 1.55. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1-year low of $39.25 and a 1-year high of $59.68.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 92.56%.
In related news, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories 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 completion of the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of Abbott Laboratories stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $54.92, for a total value of $1,555,279.48. Following the sale, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. raised its holdings in 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 valued at $1,649,000 after buying an additional 1,176 shares in the last quarter. Ingalls & Snyder LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $14,258,000. TRUE Private Wealth Advisors raised its holdings in 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 valued at $578,000 after buying an additional 5,814 shares in the last quarter. Personal Capital Advisors Corp bought a new position in Abbott Laboratories during the fourth quarter valued at about $352,000. Finally, Naples Global Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $306,000. 71.19% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.com-unik.info/2018/01/20/abbott-laboratories-abt-stock-rating-reaffirmed-by-leerink-swann.html.
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.
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.