Stocks of Abbott Laboratories [ABT] are gaining investors’ attention: here’s why

Stocks of Abbott Laboratories (NYSE:ABT) traded higher last session on Wall Street, up 0.89% to $97.87.

As we calculate the median target price by taking the range between a high of $140.00 and a low of $107.00, we find $125.00. Given the previous closing price of $97.01, this indicates a potential upside of 28.85 percent. ABT stock price is now -8.41% away from the 50-day moving average and -7.69% away from the 200-day moving average. The market capitalization of the company currently stands at $173.63B.

Brokers who have rated the stock have averaged $122.62 as their price target over the next twelve months.

With the price target of $105, Mizuho recently initiated with Neutral rating for Abbott Laboratories (NYSE: ABT). On October 18, 2022, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $118, while ‘Jefferies’ rates the stock as ‘Hold’.

In other news, MANNING JOSEPH J, EXECUTIVE VICE PRESIDENT sold 1,339 shares of the company’s stock on Mar 01. The stock was sold for $134,837 at an average price of $100.70. Upon completion of the transaction, the EXECUTIVE VICE PRESIDENT now directly owns 62,323 shares in the company, valued at $6.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01, SENIOR VICE PRESIDENT Ahlberg Gregory A sold 1,317 shares of the business’s stock. A total of $132,622 was realized by selling the stock at an average price of $100.70. This leaves the insider owning 38,420 shares of the company worth $3.76 million. Insiders disposed of 557,490 shares of company stock worth roughly $54.56 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in ABT stock. A new stake in Abbott Laboratories shares was purchased by CI PRIVATE WEALTH, LLC during the first quarter worth $145,498,000. VULCAN VALUE PARTNERS, LLC invested $87,874,000 in shares of ABT during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in Abbott Laboratories valued at approximately $47,343,000. HARVEST PORTFOLIOS GROUP INC. acquired a new stake in ABT for approximately $42,643,000. ZURICH INSURANCE GROUP LTD/FI purchased a new stake in ABT valued at around $38,195,000 in the second quarter. In total, there are 3,365 active investors with 76.20% ownership of the company’s stock.

Monday’s opening bell rang with an opening price of $97.25 for Abbott Laboratories (NYSE: ABT). During the past 12 months, Abbott Laboratories has had a low of $93.25 and a high of $124.36. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.60, and a quick ratio of 1.20. The fifty day moving average price for ABT is $106.60 and a two-hundred day moving average price translates $105.94 for the stock.

The latest earnings results from Abbott Laboratories (NYSE: ABT) was released for Dec, 2022. According to the Medical Devices Company, earnings per share came in at $1.03, beating analysts’ expectations of $0.92 by 0.11. This compares to $1.10 EPS in the same period last year. The net profit margin was 15.90% and return on equity was 19.20% for ABT. The company reported revenue of $10.09 billion for the quarter, compared to $11.47 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -12.01 percent. For the current quarter, analysts expect ABT to generate $9.64B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 05/15/2023. Investors who held shares on 04/14/2023 were paid a $0.51 dividend. On an annualized basis, this represents a $2.04 dividend and a 2.08% percent yield. There was an ex-dividend date of 04/13/2023 for this dividend. In terms of dividend payout ratio, ABT is presently at 47.60%.

Abbott Laboratories(ABT) 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 Established Pharmaceutical Products segment 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. The Diagnostic Products segment offers laboratory systems in the areas of immunoassay, clinical chemistry, hematology, and transfusion; molecular diagnostics systems that automate the extraction, purification, and preparation of DNA and RNA from patient samples, as well as detect and measure infectious agents; point of care systems; cartridges for testing blood; rapid diagnostics lateral flow testing products; molecular point-of-care testing for HIV, SARS-CoV-2, influenza A and B, RSV, and strep A; cardiometabolic test systems; drug and alcohol test, and remote patient monitoring and consumer self-test systems; and informatics and automation solutions for use in laboratories. The Nutritional Products segment provides pediatric and adult nutritional products. The Medical Devices segment offers rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases; and diabetes care products, as well as neuromodulation devices for the management of chronic pain and movement disorders. Abbott Laboratories was founded in 1888 and is based in North Chicago, Illinois.