Abbott Laboratories (NYSE:ABT - Get Free Report) EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the sale, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Abbott Laboratories Price Performance
Shares of NYSE ABT opened at $104.94 on Thursday. The business has a 50-day moving average of $112.00 and a 200-day moving average of $108.85. The company has a market capitalization of $182.56 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 2.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to analysts' expectations of $9.88 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company's revenue was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.
Abbott Laboratories Dividend Announcement
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.10%. Abbott Laboratories's payout ratio is currently 68.54%.
Analyst Ratings Changes
Several research firms recently commented on ABT. Barclays lowered their target price on Abbott Laboratories from $141.00 to $140.00 and set an "overweight" rating for the company in a research note on Monday, April 22nd. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Raymond James reaffirmed a "buy" rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Citigroup boosted their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada reduced their target price on Abbott Laboratories from $128.00 to $125.00 and set an "outperform" rating for the company in a report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $121.50.
View Our Latest Report on ABT
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of ABT. Punch & Associates Investment Management Inc. lifted its holdings in shares of Abbott Laboratories by 9.2% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,142 shares of the healthcare product maker's stock valued at $207,000 after purchasing an additional 181 shares during the last quarter. Conning Inc. increased its holdings in shares of Abbott Laboratories by 2.7% during the 3rd quarter. Conning Inc. now owns 332,655 shares of the healthcare product maker's stock valued at $32,163,000 after acquiring an additional 8,789 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of Abbott Laboratories by 10.4% during the 3rd quarter. AustralianSuper Pty Ltd now owns 3,419,911 shares of the healthcare product maker's stock valued at $331,218,000 after acquiring an additional 321,620 shares during the last quarter. Whittier Trust Co. boosted its stake in Abbott Laboratories by 1.4% during the 3rd quarter. Whittier Trust Co. now owns 373,375 shares of the healthcare product maker's stock valued at $36,161,000 after purchasing an additional 5,058 shares during the period. Finally, Grandview Asset Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at approximately $254,000. 75.18% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Company Profile
(
Get Free Report)
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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