Abbott Laboratories (NYSE:ABT)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $51.56 and last traded at $51.57, with a volume of 2,158,267 shares traded. The stock had previously closed at $51.19.

A number of brokerages recently issued reports on ABT. TheStreet cut Abbott Laboratories from a “b” rating to a “c+” rating in a report on Thursday, May 18th. Royal Bank Of Canada restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, May 15th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Wednesday, June 14th. BidaskClub upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a report on Thursday, June 29th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $52.50.

The stock has a market capitalization of $89.48 billion, a PE ratio of 72.13 and a beta of 1.06. The stock’s 50 day moving average price is $49.71 and its 200-day moving average price is $46.62.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Abbott Laboratories’s quarterly revenue was up 24.5% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post $2.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.07%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

In related news, insider Brian J. Blaser sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $750,000.00. Following the transaction, the insider now owns 143,154 shares in the company, valued at approximately $7,157,700. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jared Watkin sold 552 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total transaction of $26,479.44. Following the completion of the transaction, the insider now owns 47,090 shares in the company, valued at approximately $2,258,907.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,702 shares of company stock worth $10,837,658. 0.76% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Sanders Morris Harris LLC increased its holdings in Abbott Laboratories by 0.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after buying an additional 16 shares during the period. St. Louis Trust Co increased its holdings in Abbott Laboratories by 0.4% in the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after buying an additional 20 shares during the period. Janney Capital Management LLC increased its holdings in Abbott Laboratories by 0.4% in the 1st quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after buying an additional 26 shares during the period. Alpha Windward LLC increased its holdings in Abbott Laboratories by 0.6% in the 2nd quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after buying an additional 30 shares during the period. Finally, Lakeview Capital Partners LLC increased its holdings in Abbott Laboratories by 0.6% in the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after buying an additional 33 shares during the period. Institutional investors own 71.66% of the company’s stock.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.