Abbott Laboratories (NYSE:ABT) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $65.00 to $69.00 in a report issued on Thursday. The brokerage currently has an “overweight” rating on the healthcare product maker’s stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 9.14% from the stock’s current price.
Other equities analysts have also issued research reports about the company. William Blair raised Abbott Laboratories from a “market perform” rating to an “outperform” rating in a report on Thursday. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $63.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets increased their target price on shares of Abbott Laboratories from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Co increased their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Morgan Stanley increased their target price on shares of Abbott Laboratories from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.06.
Shares of Abbott Laboratories (NYSE ABT) traded up $1.50 during mid-day trading on Thursday, hitting $63.22. The company’s stock had a trading volume of 15,248,996 shares, compared to its average volume of 7,224,788. The stock has a market capitalization of $110,040.00, a price-to-earnings ratio of 52.25, a price-to-earnings-growth ratio of 1.89 and a beta of 1.55. Abbott Laboratories has a 12 month low of $40.45 and a 12 month high of $64.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
In related news, insider Sharon J. Bracken sold 2,188 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.12, for a total value of $122,790.56. Following the completion of the sale, the insider now owns 25,618 shares in the company, valued at $1,437,682.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,569 shares of company stock valued at $22,103,095. 0.76% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in ABT. Vanguard Group Inc. lifted its position in shares of Abbott Laboratories by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after acquiring an additional 3,241,063 shares during the period. Capital Research Global Investors lifted its position in shares of Abbott Laboratories by 45.7% during the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after acquiring an additional 14,918,038 shares during the period. Northern Trust Corp lifted its position in shares of Abbott Laboratories by 3.1% during the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after acquiring an additional 809,732 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Abbott Laboratories by 28.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after acquiring an additional 2,606,404 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Abbott Laboratories by 7.7% during the 2nd quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock valued at $564,222,000 after acquiring an additional 830,610 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.
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.
