Abbott Laboratories (NYSE:ABT) SVP Jared Watkin sold 297 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.29, for a total value of $17,609.13. Following the completion of the transaction, the senior vice president now directly owns 74,357 shares in the company, valued at $4,408,626.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Abbott Laboratories (ABT) traded up $0.20 during midday trading on Friday, hitting $59.19. The stock had a trading volume of 1,778,622 shares, compared to its average volume of 7,740,000. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.26 and a current ratio of 2.26. The firm has a market cap of $103,110.00, a price-to-earnings ratio of 56.91, a price-to-earnings-growth ratio of 1.77 and a beta of 1.55. Abbott Laboratories has a fifty-two week low of $42.31 and a fifty-two week high of $64.60.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm’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. analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is 107.69%.
Several brokerages have weighed in on ABT. Barclays upped their target price on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Guggenheim reaffirmed a “buy” rating and issued a $72.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $67.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Leerink Swann reaffirmed a “market perform” rating and issued a $68.00 target price (up from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Citigroup upped their target price on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $65.47.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Gratus Capital LLC grew its holdings in Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after buying an additional 1,869 shares during the last quarter. Moody Lynn & Lieberson LLC grew its holdings in Abbott Laboratories by 17.1% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 326,468 shares of the healthcare product maker’s stock valued at $17,420,000 after buying an additional 47,610 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Abbott Laboratories in the 3rd quarter valued at approximately $47,713,000. Vantage Investment Advisors LLC grew its holdings in Abbott Laboratories by 103.4% in the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after buying an additional 36,683 shares during the last quarter. Finally, Brightworth acquired a new stake in Abbott Laboratories in the 3rd quarter valued at approximately $841,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.
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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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