Abbott Laboratories’ (ABT) “Buy” Rating Reiterated at Credit Suisse Group

Credit Suisse Group restated their buy rating on shares of Abbott Laboratories (NYSE:ABT) in a research report released on Friday, AnalystRatings.com reports. They currently have a $106.00 target price on the healthcare product maker’s stock.

A number of other equities research analysts have also issued reports on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a hold rating to a sell rating and set a $98.00 target price on the stock. in a research note on Wednesday, April 15th. Wells Fargo & Co upped their target price on shares of Abbott Laboratories from $95.00 to $107.00 and gave the company an overweight rating in a research note on Friday, April 17th. Citigroup upped their target price on shares of Abbott Laboratories from $87.00 to $109.00 and gave the company a buy rating in a research note on Friday, April 17th. Barclays upped their target price on shares of Abbott Laboratories from $92.00 to $100.00 and gave the company an overweight rating in a research note on Monday, April 20th. Finally, Cfra upped their target price on shares of Abbott Laboratories from $99.00 to $101.00 and gave the company a buy rating in a research note on Thursday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $99.47.

ABT stock traded up $1.08 during trading on Friday, reaching $91.47. The stock had a trading volume of 5,182,655 shares, compared to its average volume of 7,501,599. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $100.00. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $159.89 billion, a P/E ratio of 45.96, a PEG ratio of 3.75 and a beta of 0.98. The firm has a fifty day moving average price of $90.01 and a 200 day moving average price of $85.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.47 billion. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. Sell-side analysts predict that Abbott Laboratories will post 2.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In related news, EVP Andrew H. Lane sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the completion of the sale, the executive vice president now directly owns 107,090 shares of the company’s stock, valued at $9,852,280. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Philip P. Boudreau sold 10,600 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $82.00, for a total transaction of $869,200.00. Following the sale, the vice president now directly owns 22,463 shares of the company’s stock, valued at $1,841,966. The disclosure for this sale can be found here. Insiders sold 166,186 shares of company stock valued at $15,359,524 over the last quarter. Insiders own 1.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its stake in Abbott Laboratories by 57.0% during the first quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. AllSquare Wealth Management LLC lifted its stake in Abbott Laboratories by 560.0% during the first quarter. AllSquare Wealth Management LLC now owns 330 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 280 shares during the last quarter. Larson Financial Group LLC lifted its stake in Abbott Laboratories by 374.3% during the first quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock valued at $28,000 after purchasing an additional 277 shares during the last quarter. Lion Street Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $31,000. Finally, Howard Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $32,000. 74.89% of the stock is owned by institutional investors and hedge funds.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Analyst Recommendations for Abbott Laboratories (NYSE:ABT)

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