Abbott Laboratories (NYSE:ABT) insider Roger Bird sold 8,262 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $62.75, for a total transaction of $518,440.50. Following the transaction, the insider now directly owns 58,574 shares of the company’s stock, valued at approximately $3,675,518.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Abbott Laboratories stock traded down $0.51 during trading on Thursday, reaching $61.91. 1,934,789 shares of the company’s stock traded hands, compared to its average volume of 7,185,054. Abbott Laboratories has a 52 week low of $42.31 and a 52 week high of $64.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86. The stock has a market cap of $109,407.83, a P/E ratio of 236.82, a P/E/G ratio of 1.86 and a beta of 1.52.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same period last year, the firm posted $0.65 EPS. Abbott Laboratories’s revenue for the quarter was up 42.3% on a year-over-year basis. sell-side analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is 430.79%.
Large investors have recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $102,000. Icon Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $102,000. SWS Partners acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $104,000. Heritage Trust Co lifted its stake in shares of Abbott Laboratories by 10.1% in the second 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 acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $106,000. 72.35% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on ABT shares. ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BTIG Research lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Barclays reiterated a “buy” rating and set a $66.00 target price on shares of Abbott Laboratories in a report on Monday, January 8th. Leerink Swann restated a “market perform” rating and issued a $68.00 price objective (up from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Morgan Stanley raised their price objective on shares of Abbott Laboratories from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price 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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