Traders Buy Shares of Abbott Laboratories (ABT) on Weakness

Traders purchased shares of Abbott Laboratories (NYSE:ABT) on weakness during trading hours on Wednesday. $197.26 million flowed into the stock on the tick-up and $123.82 million flowed out of the stock on the tick-down, for a money net flow of $73.44 million into the stock. Of all companies tracked, Abbott Laboratories had the 8th highest net in-flow for the day. Abbott Laboratories traded down ($0.28) for the day and closed at $59.52

A number of research analysts have recently weighed in on the company. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Argus raised their price objective on Abbott Laboratories from $66.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup raised their price objective on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Barclays raised their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $72.00 price objective on shares of Abbott Laboratories in a research note on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $66.83.

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The firm has a market cap of $103,941.80, a price-to-earnings ratio of 23.95, a PEG ratio of 1.76 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86.



Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 14.53% and a net margin of 1.67%. Abbott Laboratories’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. equities analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is 44.80%.

In related news, SVP Jared Watkin sold 996 shares of Abbott Laboratories stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $58.87, for a total transaction of $58,634.52. Following the completion of the transaction, the senior vice president now owns 69,511 shares in the company, valued at $4,092,112.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Starks purchased 40,037 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $60.67 per share, with a total value of $2,429,044.79. Following the acquisition, the director now directly owns 6,943,348 shares of the company’s stock, valued at approximately $421,252,923.16. The disclosure for this purchase can be found here. Insiders sold a total of 124,261 shares of company stock valued at $7,559,987 in the last 90 days. 0.74% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. IFG Advisory LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $2,824,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $102,000. Icon Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $102,000. SWS Partners bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $104,000. Finally, Cerebellum GP LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $133,000. Institutional investors and hedge funds own 72.34% of the company’s stock.

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Abbott Laboratories Company Profile

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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