Abbott Laboratories (ABT) Insider Sells $9,729,225.00 in Stock
Abbott Laboratories (NYSE:ABT) insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the sale, the insider now directly owns 221,488 shares in the company, valued at approximately $10,963,656. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Abbott Laboratories (ABT) traded down 1.12% during trading on Friday, hitting $48.74. The stock had a trading volume of 4,810,807 shares. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $51.13. The firm’s 50-day moving average is $49.15 and its 200 day moving average is $45.90. The firm has a market cap of $84.68 billion, a price-to-earnings ratio of 68.26 and a beta of 1.07.
Abbott Laboratories (NYSE:ABT) last posted its 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. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, analysts expect that Abbott Laboratories will post $2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.06 annualized dividend and a yield of 2.17%. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.
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Several brokerages recently issued reports on ABT. Cowen and Company reissued a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday. Citigroup Inc. began coverage on Abbott Laboratories in a research note on Thursday. They set a “neutral” rating and a $53.00 target price on the stock. BidaskClub downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Guggenheim began coverage on Abbott Laboratories in a research note on Thursday, June 29th. They issued a “buy” rating and a $58.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $52.14.
Large investors have recently bought and sold shares of the company. Raymond James Trust N.A. boosted its stake in Abbott Laboratories by 6.5% in the first quarter. Raymond James Trust N.A. now owns 163,719 shares of the healthcare product maker’s stock valued at $7,270,000 after buying an additional 9,960 shares during the period. Nadler Financial Group Inc. boosted its stake in Abbott Laboratories by 3.4% in the first quarter. Nadler Financial Group Inc. now owns 11,823 shares of the healthcare product maker’s stock valued at $525,000 after buying an additional 393 shares during the period. Cordasco Financial Network boosted its stake in Abbott Laboratories by 175.8% in the first quarter. Cordasco Financial Network now owns 5,516 shares of the healthcare product maker’s stock valued at $245,000 after buying an additional 3,516 shares during the period. Stock Yards Bank & Trust Co. boosted its stake in Abbott Laboratories by 366.2% in the first quarter. Stock Yards Bank & Trust Co. now owns 195,845 shares of the healthcare product maker’s stock valued at $8,698,000 after buying an additional 153,836 shares during the period. Finally, Chesley Taft & Associates LLC boosted its stake in Abbott Laboratories by 0.5% in the first quarter. Chesley Taft & Associates LLC now owns 343,785 shares of the healthcare product maker’s stock valued at $15,267,000 after buying an additional 1,592 shares during the period. 70.86% of the stock is owned by institutional investors.
About Abbott Laboratories
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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