Abbott Laboratories (NYSE:ABT) Shares Up 0.1%

Abbott Laboratories (NYSE:ABT) rose 0.1% on Wednesday . The company traded as high as $105.96 and last traded at $105.46. Approximately 1,718,274 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 5,957,264 shares. The stock had previously closed at $105.32.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays boosted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI dropped their price target on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Abbott Laboratories Trading Up 0.6 %

The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is $103.93 and its 200 day moving average is $109.10. The firm has a market capitalization of $184.33 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 2.61 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.32%. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period last year, the business posted $1.08 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.08%. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ABT. Unique Wealth Strategies LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $28,000. Signature Resources Capital Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $30,000. Institutional investors own 75.18% of the company’s stock.

About Abbott Laboratories

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.