Abbott Laboratories (NYSE:ABT) insider Jared Watkin sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total value of $4,615,000.00. Following the sale, the insider now directly owns 128,640 shares in the company, valued at $9,133,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of ABT traded up $0.57 during mid-day trading on Tuesday, reaching $70.96. 3,675,727 shares of the company’s stock traded hands, compared to its average volume of 8,085,963. The stock has a market cap of $123.28 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 2.08 and a beta of 1.39. Abbott Laboratories has a 12 month low of $54.32 and a 12 month high of $74.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.58%. Abbott Laboratories’s dividend payout ratio is 44.80%.
Several equities research analysts have weighed in on the company. Royal Bank of Canada reissued a “buy” rating and set a $70.00 price objective on shares of Abbott Laboratories in a research note on Thursday, July 19th. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 18th. Stifel Nicolaus upped their target price on Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Finally, Raymond James upped their target price on Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $75.22.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its holdings in shares of Abbott Laboratories by 8.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock valued at $1,423,000 after purchasing an additional 1,762 shares during the period. HRT Financial LLC purchased a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $206,000. American Century Companies Inc. boosted its holdings in shares of Abbott Laboratories by 417.9% in the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after purchasing an additional 4,507,553 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Abbott Laboratories by 0.8% in the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock valued at $72,823,000 after purchasing an additional 9,229 shares during the period. Finally, Worldquant Millennium Quantitative Strategies LLC purchased a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $1,793,000. 72.30% of the stock is currently owned by hedge funds and other institutional investors.
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Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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