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

Traders sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading on Thursday. $25.48 million flowed into the stock on the tick-up and $74.76 million flowed out of the stock on the tick-down, for a money net flow of $49.28 million out of the stock. Of all equities tracked, Abbott Laboratories had the 31st highest net out-flow for the day. Abbott Laboratories traded up $0.45 for the day and closed at $62.74

Several brokerages have recently issued reports on ABT. Sanford C. Bernstein began coverage on Abbott Laboratories in a report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price objective for the company. Citigroup decreased their price objective on Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 24th. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a report on Sunday, April 22nd. Finally, Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Friday, April 20th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $69.35.

The firm has a market capitalization of $110.12 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.83 and a beta of 1.50. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.67.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Abbott Laboratories had a return on equity of 14.54% and a net margin of 1.67%. Abbott Laboratories’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. research analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 13th will be issued a $0.28 dividend. The ex-dividend date is Thursday, July 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories’s payout ratio is 44.80%.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 3,000 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $61.20, for a total transaction of $183,600.00. Following the completion of the transaction, the insider now owns 95,581 shares of the company’s stock, valued at $5,849,557.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Sharon J. Bracken sold 2,150 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $58.56, for a total value of $125,904.00. Following the transaction, the senior vice president now directly owns 43,990 shares of the company’s stock, valued at approximately $2,576,054.40. The disclosure for this sale can be found here. Insiders sold a total of 5,999 shares of company stock valued at $359,901 in the last ninety days. 0.74% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 1.6% during the first quarter. BlackRock Inc. now owns 111,996,583 shares of the healthcare product maker’s stock valued at $6,710,836,000 after acquiring an additional 1,795,199 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Abbott Laboratories by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 18,056,361 shares of the healthcare product maker’s stock valued at $1,028,274,000 after purchasing an additional 794,027 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Abbott Laboratories by 5.2% in the first quarter. Franklin Resources Inc. now owns 9,042,686 shares of the healthcare product maker’s stock valued at $541,838,000 after purchasing an additional 446,071 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Abbott Laboratories by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,327,489 shares of the healthcare product maker’s stock valued at $439,064,000 after purchasing an additional 335,665 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Abbott Laboratories by 4.3% in the first quarter. Principal Financial Group Inc. now owns 5,140,015 shares of the healthcare product maker’s stock valued at $307,990,000 after purchasing an additional 211,233 shares in the last quarter. 71.67% of the stock is owned by institutional investors and hedge funds.

About Abbott Laboratories

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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