Insider Selling: Abbott Laboratories (ABT) Chairman Sells 276,886 Shares of Stock
Abbott Laboratories (NYSE:ABT) Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Abbott Laboratories (NYSE:ABT) traded down $0.05 during trading hours on Friday, hitting $54.64. 5,087,300 shares of the stock were exchanged, compared to its average volume of 6,594,714. The firm has a market capitalization of $95,141.25, a price-to-earnings ratio of 22.68, a PEG ratio of 2.05 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 52 week low of $37.90 and a 52 week high of $56.69.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. research analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.
ABT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and set a $60.00 target price (up previously from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and an average price target of $56.81.
Large investors have recently modified their holdings of the company. Heritage Trust Co lifted its holdings in Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares during the period. Tributary Capital Management LLC acquired a new position in Abbott Laboratories in the third quarter valued at $106,000. Winfield Associates Inc. lifted its holdings in Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares during the period. Thompson Davis & CO. Inc. lifted its holdings in Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares during the period. Finally, JFS Wealth Advisors LLC lifted its holdings in Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares during the period. Institutional investors own 71.01% of the company’s stock.
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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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