Insider Selling: Abbott Laboratories (NYSE:ABT) Insider Sells 309,429 Shares of Stock

Abbott Laboratories (NYSE:ABT) insider Jared Watkin sold 309,429 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $78.51, for a total transaction of $24,293,270.79. Following the sale, the insider now directly owns 189,227 shares of the company’s stock, valued at approximately $14,856,211.77. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Jared Watkin also recently made the following trade(s):

  • On Friday, March 1st, Jared Watkin sold 1,391 shares of Abbott Laboratories stock. The shares were sold at an average price of $78.00, for a total transaction of $108,498.00.

Shares of Abbott Laboratories stock traded down $0.39 on Friday, hitting $76.13. The company had a trading volume of 6,570,845 shares, compared to its average volume of 5,863,556. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market capitalization of $133.50 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. Abbott Laboratories has a 52 week low of $60.31 and a 52 week high of $80.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.86%. The business had revenue of $7.54 billion during the quarter, compared to analysts’ expectations of $7.49 billion. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 3.22 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on ABT shares. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Bank of America restated a “buy” rating and issued a $81.00 target price (up previously from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. Wells Fargo & Co restated a “buy” rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Finally, William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $80.30.

A number of hedge funds have recently added to or reduced their stakes in ABT. Vanguard Group Inc lifted its position in shares of Abbott Laboratories by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock valued at $10,197,944,000 after acquiring an additional 2,208,781 shares in the last quarter. BlackRock Inc. lifted its position in shares of Abbott Laboratories by 2.7% in the 1st quarter. BlackRock Inc. now owns 124,326,366 shares of the healthcare product maker’s stock valued at $9,938,650,000 after acquiring an additional 3,280,776 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Abbott Laboratories by 11.9% in the 1st quarter. Wellington Management Group LLP now owns 46,212,407 shares of the healthcare product maker’s stock valued at $3,694,220,000 after acquiring an additional 4,906,838 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Abbott Laboratories by 7,559.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock valued at $416,000 after acquiring an additional 29,702,943 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Abbott Laboratories by 2.7% in the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock valued at $1,924,260,000 after acquiring an additional 708,691 shares in the last quarter. 73.45% of the stock is owned by institutional investors and hedge funds.

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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 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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