Abbott Laboratories Target of Unusually High Options Trading (ABT)
Abbott Laboratories (NYSE:ABT) was the recipient of unusually large options trading on Wednesday. Traders acquired 115,175 call options on the stock. This is an increase of 4,299% compared to the typical volume of 2,618 call options.
Several brokerages have recently commented on ABT. BMO Capital Markets restated a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Barclays raised their target price on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 28th. Bank of America restated a “buy” rating and issued a $60.00 target price (up from $56.00) on shares of Abbott Laboratories in a research note on Wednesday, October 4th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus raised their target price on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.24.
Abbott Laboratories (ABT) opened at $58.84 on Friday. The stock has a market capitalization of $102,420.00, a PE ratio of 48.63, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a 12 month low of $39.25 and a 12 month high of $59.60.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is 87.60%.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $55.00, for a total value of $3,913,635.00. Following the completion of the sale, the insider now owns 144,955 shares of the company’s stock, valued at $7,972,525. The disclosure for this sale can be found here. Over the last three months, insiders sold 501,172 shares of company stock valued at $27,533,150. Corporate insiders own 0.76% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ABT. Gratus Capital LLC lifted its position in shares of Abbott Laboratories by 0.9% during the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after buying an additional 1,869 shares in the last quarter. Vantage Investment Advisors LLC lifted its position in shares of Abbott Laboratories by 103.4% during the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after buying an additional 36,683 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its position in shares of Abbott Laboratories by 2.5% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock worth $11,708,000 after buying an additional 5,790 shares in the last quarter. Amalgamated Bank lifted its position in shares of Abbott Laboratories by 57.6% during the 2nd quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock worth $9,295,000 after buying an additional 69,871 shares in the last quarter. Finally, Sather Financial Group Inc bought a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $292,000. Institutional investors and hedge funds own 71.15% of the company’s stock.
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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