Abbott Laboratories (NYSE:ABT) Price Target Cut to $140.00 by Analysts at Barclays

Abbott Laboratories (NYSE:ABT) had its target price cut by Barclays from $141.00 to $140.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the healthcare product maker’s stock.

A number of other brokerages also recently issued reports on ABT. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Raymond James boosted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Citigroup boosted their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada dropped their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an outperform rating on the stock in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $121.80.

Abbott Laboratories Stock Down 0.2 %

Shares of NYSE ABT opened at $107.07 on Monday. The company has a market capitalization of $185.79 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The company’s 50 day moving average price is $114.08 and its 200-day moving average price is $107.90.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS. Equities analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Transactions at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 56,435 shares of company stock worth $6,451,298 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abbott Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABT. International Assets Investment Management LLC boosted its position in Abbott Laboratories by 24.4% during the third quarter. International Assets Investment Management LLC now owns 9,543 shares of the healthcare product maker’s stock worth $912,000 after purchasing an additional 1,874 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Abbott Laboratories by 9.5% in the third quarter. Wedge Capital Management L L P NC now owns 3,413 shares of the healthcare product maker’s stock worth $331,000 after buying an additional 296 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in shares of Abbott Laboratories by 4.5% in the third quarter. Douglas Lane & Associates LLC now owns 16,809 shares of the healthcare product maker’s stock worth $1,628,000 after buying an additional 725 shares in the last quarter. 1900 Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 38.7% in the third quarter. 1900 Wealth Management LLC now owns 5,891 shares of the healthcare product maker’s stock worth $571,000 after buying an additional 1,643 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Abbott Laboratories by 20.5% in the third quarter. DAVENPORT & Co LLC now owns 955,567 shares of the healthcare product maker’s stock worth $92,825,000 after buying an additional 162,877 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

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.