Royal Bank Of Canada restated their outperform rating on shares of Abbott Laboratories (NYSE:ABT) in a research note published on Monday morning. The firm currently has a $48.00 target price on the healthcare product maker’s stock.

Other equities analysts also recently issued reports about the company. Barclays PLC restated a buy rating and issued a $48.00 price target on shares of Abbott Laboratories in a research note on Saturday, June 18th. Argus reiterated a buy rating and set a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, July 28th. TheStreet downgraded Abbott Laboratories to a hold rating in a research report on Thursday, May 26th. BTIG Research reiterated a buy rating and set a $45.00 target price on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Finally, Edward Jones upgraded Abbott Laboratories from a hold rating to a buy rating in a research report on Tuesday, June 21st. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Abbott Laboratories has a consensus rating of Buy and an average price target of $47.02.

Abbott Laboratories (NYSE:ABT) opened at 41.92 on Monday. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.38. The stock has a market capitalization of $61.62 billion, a PE ratio of 27.67 and a beta of 0.82. The stock has a 50 day moving average price of $43.17 and a 200-day moving average price of $41.17.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.24 billion. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s payout ratio is presently 68.87%.

In other news, insider Stephen R. Fussell sold 41,500 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the transaction, the insider now directly owns 196,467 shares of the company’s stock, valued at $8,841,015. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Hubert L. Allen sold 3,400 shares of the company’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $37.14, for a total value 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 disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Parasol Investment Management LLC increased its position in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock valued at $101,000 after buying an additional 600 shares during the last quarter. Krilogy Financial LLC increased its position in Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 229 shares during the last quarter. SeaBridge Investment Advisors LLC increased its position in Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares during the last quarter. Perceptive Advisors LLC purchased a new position in Abbott Laboratories during the second quarter valued at about $120,000. Finally, CapWealth Advisors LLC increased its position in Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares during the last quarter. 73.03% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Company Profile

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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