Brian J. Blaser Sells 23,866 Shares of Abbott Laboratories (NYSE:ABT) Stock

Abbott Laboratories (NYSE:ABT) insider Brian J. Blaser sold 23,866 shares of Abbott Laboratories stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the transaction, the insider now directly owns 146,387 shares of the company’s stock, valued at approximately $8,131,797.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Abbott Laboratories (ABT) traded down $0.13 during mid-day trading on Wednesday, reaching $54.66. The company had a trading volume of 7,828,595 shares, compared to its average volume of 6,609,666. The stock has a market capitalization of $95,228.27, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.42 and a 12 month high of $56.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. equities research analysts predict that Abbott Laboratories will post 2.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 83.47%.

A number of research firms recently weighed in on ABT. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. J P Morgan Chase & Co began coverage on Abbott Laboratories in a research report on Friday, October 6th. They issued a “neutral” rating and a $60.00 target price for the company. Royal Bank Of Canada restated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Cowen set a $68.00 price objective on Abbott Laboratories and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price objective on shares of Abbott Laboratories in a research report on Friday, September 1st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $56.81.

A number of institutional investors have recently added to or reduced their stakes in the business. Heritage Trust Co lifted its holdings in shares of Abbott Laboratories by 10.1% during 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 in the last quarter. Tributary Capital Management LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at $106,000. Winfield Associates Inc. lifted its holdings in shares of Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. lifted its holdings in shares of Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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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.

Insider Buying and Selling by Quarter for Abbott Laboratories (NYSE:ABT)

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