Abbott Laboratories (ABT) SVP Sells $17,609.13 in Stock

Abbott Laboratories (NYSE:ABT) SVP Jared Watkin sold 297 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.29, for a total value of $17,609.13. Following the completion of the sale, the senior vice president now owns 74,357 shares in the company, valued at approximately $4,408,626.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of Abbott Laboratories (NYSE ABT) remained flat at $$58.99 during trading hours on Thursday. 2,053,759 shares of the company’s stock were exchanged, compared to its average volume of 7,481,413. The stock has a market cap of $102,700.00, a price-to-earnings ratio of 56.77, a PEG ratio of 1.78 and a beta of 1.55. 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 has a one year low of $42.31 and a one year high of $64.60.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. Abbott Laboratories’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. equities research analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 107.69%.

Several institutional investors have recently modified their holdings of the business. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Abbott Laboratories by 0.3% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock worth $803,000 after purchasing an additional 56 shares during the period. National Planning Corp lifted its stake in shares of Abbott Laboratories by 0.3% during the 2nd quarter. National Planning Corp now owns 26,732 shares of the healthcare product maker’s stock worth $1,302,000 after purchasing an additional 83 shares during the period. Farmers National Bank lifted its stake in shares of Abbott Laboratories by 2.4% during the 2nd quarter. Farmers National Bank now owns 3,653 shares of the healthcare product maker’s stock worth $178,000 after purchasing an additional 85 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Abbott Laboratories by 0.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 12,341 shares of the healthcare product maker’s stock worth $600,000 after purchasing an additional 87 shares during the period. Finally, Hedeker Wealth LLC lifted its stake in shares of Abbott Laboratories by 0.5% during the 2nd quarter. Hedeker Wealth LLC now owns 24,678 shares of the healthcare product maker’s stock worth $1,199,000 after purchasing an additional 116 shares during the period. 70.01% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on ABT. Bank of America upped their price target on Abbott Laboratories from $60.00 to $70.00 in a report on Wednesday, January 24th. They noted that the move was a valuation call. Leerink Swann restated a “market perform” rating and issued a $68.00 price target (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. BMO Capital Markets upped their price target on Abbott Laboratories from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Evercore ISI began coverage on Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on Abbott Laboratories from $63.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $65.47.

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Abbott Laboratories Company Profile

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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