Abbott Laboratories (NYSE:ABT) EVP Sells $3,210,300.00 in Stock

Abbott Laboratories (NYSE:ABT) EVP Andrea F. Wainer sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $107.01, for a total value of $3,210,300.00. Following the completion of the sale, the executive vice president now owns 74,080 shares of the company’s stock, valued at $7,927,300.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of ABT stock traded down $0.19 during mid-day trading on Thursday, hitting $108.64. 7,240,841 shares of the stock were exchanged, compared to its average volume of 7,358,413. The stock’s fifty day simple moving average is $104.30 and its two-hundred day simple moving average is $93.67. The stock has a market capitalization of $192.35 billion, a price-to-earnings ratio of 62.80, a P/E/G ratio of 2.88 and a beta of 0.96. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $114.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.15. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $6.85 billion. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. On average, research analysts expect that Abbott Laboratories will post 3.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, October 14th. Abbott Laboratories’s payout ratio is 44.44%.

Several hedge funds have recently modified their holdings of the business. RPG Investment Advisory LLC increased its position in Abbott Laboratories by 113.4% in the 2nd quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 203 shares during the period. Bay Harbor Wealth Management LLC raised its stake in shares of Abbott Laboratories by 159.9% during the second quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock worth $41,000 after purchasing an additional 275 shares during the last quarter. Islay Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth approximately $46,000. Arlington Partners LLC raised its stake in shares of Abbott Laboratories by 1,187.8% during the second quarter. Arlington Partners LLC now owns 528 shares of the healthcare product maker’s stock worth $48,000 after purchasing an additional 487 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its stake in shares of Abbott Laboratories by 178.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 596 shares of the healthcare product maker’s stock worth $47,000 after purchasing an additional 382 shares during the last quarter. 73.09% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on ABT. Credit Suisse Group increased their price objective on Abbott Laboratories from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Goldman Sachs Group set a $94.00 price target on Abbott Laboratories and gave the stock a “sell” rating in a research note on Wednesday, September 2nd. Bank of America upped their price target on Abbott Laboratories from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, August 27th. Finally, Argus increased their price objective on Abbott Laboratories from $110.00 to $125.00 in a research note on Thursday, July 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $111.19.

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 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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