Abbott Laboratories (NYSE:ABT) Stock Price Expected to Rise, Mizuho Analyst Says

Abbott Laboratories (NYSE:ABT) had its price objective raised by Mizuho from $130.00 to $140.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the healthcare product maker’s stock.

Several other research firms have also weighed in on ABT. Morgan Stanley raised their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday. Evercore ISI raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Jefferies Financial Group raised their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Finally, Piper Sandler restated an “overweight” rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.33.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $131.79 on Wednesday. The company has a market capitalization of $229.30 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 2.50 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $133.43 and its 200-day simple moving average is $129.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is 30.61%.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director directly owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ABT. Norges Bank acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $2,373,461,000. Nuveen LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $1,658,180,000. T. Rowe Price Investment Management Inc. lifted its holdings in Abbott Laboratories by 383.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock worth $945,453,000 after buying an additional 6,628,310 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock worth $676,866,000 after buying an additional 5,069,771 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

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.