Raymond James Reaffirms “Buy” Rating for Abbott Laboratories (NYSE:ABT)

Raymond James restated their buy rating on shares of Abbott Laboratories (NYSE:ABT) in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. The firm currently has a $124.00 target price on the healthcare product maker’s stock.

A number of other equities analysts have also recently commented on the company. Barclays reduced their price target on Abbott Laboratories from $141.00 to $140.00 and set an overweight rating for the company in a report on Monday, April 22nd. Citigroup lifted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada reduced their price target on Abbott Laboratories from $128.00 to $125.00 and set an outperform rating for the company in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of Moderate Buy and a consensus target price of $121.50.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $107.51 on Wednesday. The stock has a market capitalization of $186.55 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 2.57 and a beta of 0.74. The business has a 50-day moving average of $113.64 and a 200-day moving average of $108.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. Abbott Laboratories’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insider Activity

In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s 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 in the company, valued at $9,444,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,435 shares of company stock worth $6,451,298. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Abbott Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Alliance Wealth Advisors LLC UT grew its position in Abbott Laboratories by 0.4% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after purchasing an additional 92 shares in the last quarter. Rappaport Reiches Capital Management LLC grew its position in Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after purchasing an additional 94 shares in the last quarter. Avion Wealth grew its position in Abbott Laboratories by 19.4% in the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after purchasing an additional 96 shares in the last quarter. Wynn Capital LLC grew its position in shares of Abbott Laboratories by 2.9% during the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after acquiring an additional 98 shares during the period. Finally, Berger Financial Group Inc grew its position in shares of Abbott Laboratories by 3.0% during the 4th quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock valued at $377,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds 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.