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.
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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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