Abbott Laboratories (NYSE:ABT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Abbott Laboratories has received a consensus rating of "Moderate Buy" from 22 analysts, with 16 recommending a buy and only 4 suggesting a hold.
• The average 12-month price target for Abbott Laboratories is $144.47 as estimated by brokerages, reflecting potential growth in its stock price.
• The company recently announced a quarterly dividend of $0.59 per share, contributing to an annual dividend yield of 1.9%.

Shares of Abbott Laboratories (NYSE:ABT - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-two ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $144.47.

Several analysts have recently weighed in on the company. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Wells Fargo & Company dropped their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Piper Sandler restated an "overweight" rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Leerink Partners initiated coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective on the stock.

Abbott Laboratories Stock Up 0.9%

Shares of NYSE ABT opened at $127.32 on Friday. The stock has a market cap of $221.52 billion, a P/E ratio of 15.95, a PEG ratio of 2.39 and a beta of 0.73. The business's fifty day simple moving average is $131.78 and its 200-day simple moving average is $130.36. Abbott Laboratories has a 12-month low of $107.11 and a 12-month high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Institutional Trading of Abbott Laboratories

A number of hedge funds have recently bought and sold shares of ABT. Three Seasons Wealth LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $1,428,000. Kelly Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth about $216,000. Voleon Capital Management LP acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $273,000. Bank Pictet & Cie Europe AG raised its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares during the period. Finally, Edge Financial Advisors LLC raised its position in Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

About Abbott Laboratories

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.

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