Abbott Laboratories (NYSE:ABT) Shares Down 1.8%

Abbott Laboratories (NYSE:ABT) shares were down 1.8% on Wednesday . The stock traded as low as $114.72 and last traded at $114.97. Approximately 1,044,117 shares were traded during trading, a decline of 82% from the average daily volume of 5,818,611 shares. The stock had previously closed at $117.11.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABT. Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI dropped their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company’s 50-day moving average price is $108.42 and its 200 day moving average price is $108.63. The stock has a market capitalization of $201.55 billion, a P/E ratio of 36.04, a P/E/G ratio of 2.83 and a beta of 0.72.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Hedge Funds Weigh In On Abbott Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $28,000. Transcendent Capital Group LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $30,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the second quarter worth $32,000. 75.18% of the stock is 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.