Abbott Laboratories (NYSE:ABT) Shares Down 0.6%

Abbott Laboratories (NYSE:ABT) traded down 0.6% during mid-day trading on Monday . The stock traded as low as $107.11 and last traded at $108.03. 891,788 shares were traded during mid-day trading, a decline of 85% from the average session volume of 6,015,783 shares. The stock had previously closed at $108.71.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Citigroup cut their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Finally, The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Abbott Laboratories Price Performance

The stock’s fifty day moving average is $104.94 and its 200-day moving average is $108.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. The stock has a market capitalization of $187.53 billion, a P/E ratio of 33.65, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.04%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Institutional Investors Weigh In On Abbott Laboratories

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in Abbott Laboratories by 28.4% during the fourth quarter. International Assets Investment Management LLC now owns 12,257 shares of the healthcare product maker’s stock worth $1,349,000 after buying an additional 2,714 shares during the last quarter. NewEdge Wealth LLC grew its position in Abbott Laboratories by 1.2% during the 4th quarter. NewEdge Wealth LLC now owns 33,104 shares of the healthcare product maker’s stock worth $3,644,000 after acquiring an additional 381 shares during the last quarter. Simplicity Wealth LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $267,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Abbott Laboratories by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,159,295 shares of the healthcare product maker’s stock worth $567,884,000 after purchasing an additional 81,392 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Abbott Laboratories by 2.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,976 shares of the healthcare product maker’s stock worth $1,869,000 after purchasing an additional 402 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Company Profile

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.