Abbott Laboratories (NYSE:ABT) Receives $147.00 Average Price Target from Analysts

Shares of Abbott Laboratories (NYSE:ABT) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $147.00.

A number of equities research analysts have recently commented on ABT shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Raymond James Financial increased their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Sanford C. Bernstein upped their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Benchmark began coverage on Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company.

Abbott Laboratories Trading Down 0.3%

NYSE ABT opened at $125.01 on Friday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The company has a market capitalization of $217.38 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. The firm’s fifty day moving average price is $128.53 and its 200 day moving average price is $130.78.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.59 per share. The ex-dividend date was Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s payout ratio is presently 29.57%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Avanza Fonder AB lifted its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Abbott Laboratories by 13.5% during the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock worth $13,457,000 after buying an additional 11,794 shares during the last quarter. Atria Investments Inc boosted its position in shares of Abbott Laboratories by 8.3% in the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after acquiring an additional 14,185 shares during the period. Financial Management Professionals Inc. grew its stake in shares of Abbott Laboratories by 715.7% in the second quarter. Financial Management Professionals Inc. now owns 6,142 shares of the healthcare product maker’s stock worth $835,000 after acquiring an additional 5,389 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after acquiring an additional 73,780 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

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.