Abbott Laboratories (NYSE:ABT) Insider Sells $233,634.00 in Stock
Abbott Laboratories (NYSE:ABT) insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total transaction of $233,634.00. Following the sale, the insider now directly owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Abbott Laboratories (ABT) traded down 0.58% during midday trading on Thursday, reaching $50.11. The company’s stock had a trading volume of 7,370,823 shares. The company has a market cap of $86.95 billion, a price-to-earnings ratio of 70.18 and a beta of 1.07. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $51.13. The stock has a 50-day moving average of $48.68 and a 200 day moving average of $45.00.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 15.53% and a net margin of 4.96%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.12%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 149.30%.
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Several equities analysts recently issued reports on ABT shares. Cowen and Company restated an “outperform” rating and set a $48.00 price objective on shares of Abbott Laboratories in a research note on Saturday, April 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 29th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Finally, Stifel Nicolaus raised their target price on Abbott Laboratories from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.13.
Large investors have recently made changes to their positions in the company. Menora Mivtachim Holdings LTD. purchased a new position in Abbott Laboratories during the fourth quarter worth about $129,000. L & S Advisors Inc purchased a new position in Abbott Laboratories during the fourth quarter worth about $468,000. Cigna Investments Inc. New purchased a new position in Abbott Laboratories during the fourth quarter worth about $2,084,000. Boothbay Fund Management LLC purchased a new position in Abbott Laboratories during the fourth quarter worth about $348,000. Finally, United Capital Financial Advisers LLC increased its position in Abbott Laboratories by 0.6% in the fourth quarter. United Capital Financial Advisers LLC now owns 502,079 shares of the healthcare product maker’s stock worth $19,285,000 after buying an additional 3,045 shares during the last quarter. Institutional investors own 71.08% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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