UBS Group Forecasts Strong Price Appreciation for Abbott Laboratories (NYSE:ABT) Stock

Abbott Laboratories (NYSE:ABT) had its price target raised by UBS Group from $146.00 to $148.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the healthcare product maker’s stock.

Several other analysts have also recently weighed in on the stock. Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Piper Sandler boosted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays raised their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley lifted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.50.

Abbott Laboratories Stock Up 1.5 %

Shares of NYSE ABT opened at $125.12 on Thursday. The company has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $115.26 and its 200 day moving average is $113.31. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $125.67.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11,029,400 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. On average, equities research analysts expect that Abbott Laboratories will post 5.15 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Institutional Trading of Abbott Laboratories

A number of hedge funds have recently bought and sold shares of ABT. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories in the 3rd quarter worth $37,000. Finally, JDM Financial Group LLC raised its holdings in Abbott Laboratories by 51.3% in the 3rd quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

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.