Traders Sell Abbott Laboratories (ABT) on Strength on Insider Selling

Traders sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Thursday after an insider sold shares in the company. $64.11 million flowed into the stock on the tick-up and $116.10 million flowed out of the stock on the tick-down, for a money net flow of $51.99 million out of the stock. Of all companies tracked, Abbott Laboratories had the 0th highest net out-flow for the day. Abbott Laboratories traded up $0.36 for the day and closed at $78.98Specifically, insider Roger Bird sold 9,188 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $79.06, for a total transaction of $726,403.28. Following the completion of the sale, the insider now directly owns 60,195 shares of the company’s stock, valued at approximately $4,759,016.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sharon J. Bracken sold 5,500 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $77.83, for a total value of $428,065.00. Following the sale, the insider now directly owns 50,019 shares of the company’s stock, valued at $3,892,978.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,669 shares of company stock valued at $14,085,330. 0.74% of the stock is currently owned by company insiders.

A number of analysts have issued reports on ABT shares. Citigroup downgraded Abbott Laboratories from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $72.00 to $68.00 in a report on Wednesday, January 2nd. UBS Group started coverage on Abbott Laboratories in a report on Tuesday, November 27th. They set a “buy” rating and a $83.00 price target for the company. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Goldman Sachs Group raised Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 price target for the company in a report on Sunday, December 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $81.00 price target (up from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $79.71.

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 1.20. The stock has a market capitalization of $137.43 billion, a P/E ratio of 27.73, a PEG ratio of 2.09 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

Several institutional investors and hedge funds have recently bought and sold shares of ABT. Csenge Advisory Group acquired a new position in Abbott Laboratories in the 3rd quarter valued at about $31,000. 1 North Wealth Services LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at about $33,000. Brand Asset Management Group Inc. increased its position in Abbott Laboratories by 66.7% in the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock valued at $36,000 after acquiring an additional 200 shares during the period. Exane Derivatives acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $42,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 74.31% of the company’s stock.

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Abbott Laboratories Company Profile (NYSE:ABT)

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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