Stephen R. Fussell Sells 56,401 Shares of Abbott Laboratories (ABT) Stock

Abbott Laboratories (NYSE:ABT) insider Stephen R. Fussell sold 56,401 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total value of $3,362,063.61. Following the completion of the sale, the insider now directly owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Abbott Laboratories (ABT) traded up $0.22 during trading on Thursday, reaching $59.21. The company’s stock had a trading volume of 720,260 shares, compared to its average volume of 7,435,945. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The firm has a market cap of $102,710.00, a PE ratio of 57.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.55. Abbott Laboratories has a 12-month low of $42.31 and a 12-month high of $64.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS. sell-side analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is 107.69%.

Institutional investors have recently bought and sold shares of the business. Rowland & Co. Investment Counsel ADV acquired a new position in Abbott Laboratories in the 4th quarter valued at approximately $102,000. Icon Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $102,000. SWS Partners bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $104,000. Heritage Trust Co grew its stake in shares of Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares during the period. Finally, Tributary Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $106,000. 70.01% of the stock is owned by hedge funds and other institutional investors.

ABT has been the subject of a number of analyst reports. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 9th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target for the company in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $58.00 to $65.00 in a research report on Tuesday, December 12th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.47.

TRADEMARK VIOLATION WARNING: This article was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/22/stephen-r-fussell-sells-56401-shares-of-abbott-laboratories-abt-stock.html.

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.

Insider Buying and Selling by Quarter for Abbott Laboratories (NYSE:ABT)

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