Abbott Laboratories (NYSE:ABT)’s share price rose 3.2% during trading on Wednesday . The stock traded as high as $40.71 and last traded at $40.69, with a volume of 6,684,949 shares changing hands. The stock had previously closed at $39.44.

ABT has been the topic of several recent analyst reports. Leerink Swann raised their target price on shares of Abbott Laboratories from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, March 28th. First Global lowered shares of Abbott Laboratories from an “outperform” rating to a “marketperform” rating in a report on Thursday, April 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 price target (up from $45.00) on shares of Abbott Laboratories in a report on Monday, April 11th. TheStreet lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $47.00 price target (up from $45.00) on shares of Abbott Laboratories in a report on Tuesday, March 15th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $46.40.

The firm has a market capitalization of $61.53 billion and a price-to-earnings ratio of 25.79. The company’s 50 day moving average price is $38.60 and its 200 day moving average price is $40.04.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. During the same quarter in the previous year, the business earned $0.47 earnings per share. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.77 billion. The firm’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post $2.20 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, July 13th.

In other Abbott Laboratories news, EVP Hubert L. Allen sold 3,400 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $37.14, for a total transaction of $126,276.00. Following the transaction, the executive vice president now directly owns 91,857 shares in the company, valued at $3,411,568.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several hedge funds and institutional investors have recently modified their holdings of ABT. Highstreet Asset Management Inc. boosted its position in shares of Abbott Laboratories by 950.0% in the fourth quarter. Highstreet Asset Management Inc. now owns 155,180 shares of the healthcare product maker’s stock valued at $6,969,000 after buying an additional 140,401 shares in the last quarter. Hochman Cole Investment Advisors Inc. purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at about $1,463,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Abbott Laboratories by 27.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 379,529 shares of the healthcare product maker’s stock valued at $17,045,000 after buying an additional 81,498 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Abbott Laboratories by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 2,846,669 shares of the healthcare product maker’s stock valued at $127,844,000 after buying an additional 44,981 shares in the last quarter. Finally, Norris Perne & French LLP MI boosted its position in shares of Abbott Laboratories by 102.1% in the fourth quarter. Norris Perne & French LLP MI now owns 212,673 shares of the healthcare product maker’s stock valued at $9,551,000 after buying an additional 107,417 shares in the last quarter.

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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