Abbott Laboratories (NYSE:ABT) has been given an average recommendation of “Buy” by the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $55.86.

Several research firms recently commented on ABT. Citigroup Inc. began coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, September 22nd. Barclays PLC upped their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Finally, J P Morgan Chase & Co began coverage on shares of Abbott Laboratories in a research report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price target for the company.

In other news, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at approximately $10,963,656. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. Insiders sold a total of 333,310 shares of company stock valued at $16,857,255 in the last quarter. Insiders own 0.76% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Heritage Trust Co increased its holdings in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Winfield Associates Inc. increased its holdings in shares of Abbott Laboratories by 3.9% in the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares in the last quarter. V Wealth Management LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $127,000. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.

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Abbott Laboratories (ABT) opened at 54.44 on Thursday. The company’s 50 day moving average is $52.20 and its 200 day moving average is $48.00. The stock has a market cap of $94.59 billion, a PE ratio of 76.25 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $55.43.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. Abbott Laboratories’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post $2.49 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’s dividend payout ratio is presently 149.30%.

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.

Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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