Abbott Laboratories (NYSE:ABT) had its price objective lifted by equities researchers at Barclays from $66.00 to $70.00 in a research report issued on Thursday. The firm presently has an “overweight” rating on the healthcare product maker’s stock. Barclays’ price target would indicate a potential upside of 10.72% from the stock’s previous close.
Several other analysts have also issued reports on ABT. Wells Fargo & Co upped their target price on Abbott Laboratories from $57.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 target price on shares of Abbott Laboratories in a report on Monday, October 2nd. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Bank of America reiterated a “buy” rating and set a $60.00 target price (up previously from $56.00) on shares of Abbott Laboratories in a report on Wednesday, October 4th. Finally, JPMorgan Chase & Co. started coverage on Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 target price on the stock. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $64.06.
Abbott Laboratories (NYSE ABT) traded up $1.50 on Thursday, reaching $63.22. The company had a trading volume of 15,248,996 shares, compared to its average volume of 6,830,000. Abbott Laboratories has a fifty-two week low of $39.25 and a fifty-two week high of $64.60. The company has a market capitalization of $110,040.00, a price-to-earnings ratio of 52.25, a PEG ratio of 1.89 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
In other news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total value of $3,913,635.00. Following the transaction, the insider now owns 144,955 shares of the company’s stock, valued at $7,972,525. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the transaction, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,569 shares of company stock worth $22,103,095. Company insiders own 0.76% of the company’s stock.
Several institutional investors have recently bought and sold shares of ABT. Vanguard Group Inc. grew its position in Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after buying an additional 3,241,063 shares in the last quarter. Capital Research Global Investors grew its position in Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after buying an additional 14,918,038 shares in the last quarter. Northern Trust Corp grew its position in Abbott Laboratories by 3.1% during the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after buying an additional 809,732 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after buying an additional 2,606,404 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Abbott Laboratories by 7.7% during the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after buying an additional 830,610 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.
About Abbott Laboratories
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.
