Abbott Laboratories (NYSE:ABT) insider Brian J. Blaser sold 23,866 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.55, for a total value of $1,325,756.30. Following the completion of the sale, the insider now owns 146,387 shares in the company, valued at approximately $8,131,797.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Abbott Laboratories (NYSE:ABT) traded up $0.03 during trading on Thursday, hitting $54.69. The stock had a trading volume of 4,421,939 shares, compared to its average volume of 6,601,102. Abbott Laboratories has a twelve month low of $37.90 and a twelve month high of $56.69. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $95,210.00, a price-to-earnings ratio of 22.73, a PEG ratio of 2.05 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the company earned $0.59 EPS. Abbott Laboratories’s revenue was up 28.8% on a year-over-year basis. research analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.94%. Abbott Laboratories’s dividend payout ratio (DPR) is 87.60%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sanders Morris Harris LLC increased its holdings in shares of Abbott Laboratories by 0.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after acquiring an additional 16 shares during the last quarter. St. Louis Trust Co boosted its position in shares of Abbott Laboratories by 0.4% in the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after purchasing an additional 20 shares during the period. Alpha Windward LLC lifted its position in Abbott Laboratories by 0.6% during the 2nd quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after acquiring an additional 30 shares during the period. Lakeview Capital Partners LLC lifted its position in Abbott Laboratories by 0.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after acquiring an additional 33 shares during the period. Finally, Johanson Financial Advisors Inc. lifted its position in Abbott Laboratories by 0.5% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after acquiring an additional 37 shares during the period. Institutional investors own 71.01% of the company’s stock.
Several equities analysts have recently commented on the company. Cowen restated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Barclays raised their price target on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 28th. Citigroup started coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 target price for the company. Finally, 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 report on Wednesday, October 4th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $56.81.
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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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