Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Tuesday. $35.44 million flowed into the stock on the tick-up and $74.93 million flowed out of the stock on the tick-down, for a money net flow of $39.49 million out of the stock. Of all companies tracked, Abbott Laboratories had the 26th highest net out-flow for the day. Abbott Laboratories traded up $0.39 for the day and closed at $62.65
A number of brokerages have commented on ABT. Wells Fargo upped their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. William Blair upgraded shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley upgraded shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a research note on Tuesday, January 2nd. Finally, Barclays upped their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.47.
The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $110,333.38, a P/E ratio of 240.97, a PEG ratio of 1.87 and a beta of 1.52.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm 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 earned $0.65 earnings per share. The company’s quarterly revenue was up 42.3% on a year-over-year basis. equities analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories’s dividend payout ratio is presently 430.79%.
In other news, SVP Jared Watkin sold 996 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $58.87, for a total transaction of $58,634.52. Following the transaction, the senior vice president now directly owns 69,511 shares in the company, valued at $4,092,112.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the transaction, the executive vice president now owns 152,343 shares in the company, valued at $9,573,234.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,261 shares of company stock worth $7,559,987. Insiders own 0.76% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Rowland & Co. Investment Counsel ADV purchased a new stake in Abbott Laboratories during the fourth quarter valued at approximately $102,000. Icon Wealth Partners LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $102,000. SWS Partners purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $104,000. Heritage Trust Co raised its holdings 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 worth $106,000 after buying an additional 200 shares during the last quarter. Finally, Tributary Capital Management LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth $106,000. 72.35% of the stock is owned by institutional investors.
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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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