Abbott Laboratories (NYSE:ABT) Reaches New 12-Month Low at $100.64

Abbott Laboratories (NYSE:ABTGet Rating) shares hit a new 52-week low on Wednesday . The stock traded as low as $100.64 and last traded at $100.64, with a volume of 277360 shares traded. The stock had previously closed at $102.31.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABT. Cowen reduced their price target on shares of Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Royal Bank of Canada cut their price objective on shares of Abbott Laboratories from $143.00 to $132.00 in a research report on Thursday, July 21st. Wolfe Research started coverage on shares of Abbott Laboratories in a research report on Tuesday, July 5th. They set an “underperform” rating on the stock. Morgan Stanley cut their price objective on shares of Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, July 21st. Finally, UBS Group cut their price objective on shares of Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.46.

Abbott Laboratories Trading Up 0.4 %

The stock’s 50 day moving average is $107.10 and its two-hundred day moving average is $111.67. The company has a market capitalization of $177.00 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 3.79 and a beta of 0.72. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 0.46.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The company had revenue of $11.26 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Abbott Laboratories will post 4.99 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, October 13th. Abbott Laboratories’s payout ratio is 39.25%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 102,425 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at $14,931,662.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Fernando Mateus sold 2,457 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total transaction of $267,935.85. Following the transaction, the senior vice president now owns 14,503 shares in the company, valued at $1,581,552.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert B. Ford sold 102,425 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the transaction, the chief executive officer now owns 142,071 shares in the company, valued at approximately $14,931,662.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,788 shares of company stock valued at $21,776,756. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Abbott Laboratories

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 1.4% during the first quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock valued at $17,906,500,000 after acquiring an additional 2,136,177 shares in the last quarter. BlackRock Inc. increased its holdings in Abbott Laboratories by 2.1% in the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after buying an additional 2,836,966 shares during the period. State Street Corp increased its holdings in Abbott Laboratories by 2.6% in the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock worth $10,460,085,000 after buying an additional 1,896,462 shares during the period. Norges Bank acquired a new position in Abbott Laboratories in the 4th quarter worth approximately $2,290,723,000. Finally, Legal & General Group Plc increased its holdings in Abbott Laboratories by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 13,252,430 shares of the healthcare product maker’s stock worth $1,439,881,000 after buying an additional 565,475 shares during the period. Institutional investors and hedge funds own 73.03% of the company’s stock.

Abbott Laboratories Company Profile

(Get Rating)

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 Established Pharmaceutical Products segment 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.

Further Reading

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