Daniel Gesua Sive Salvadori Sells 815 Shares of Abbott Laboratories (ABT) Stock
Abbott Laboratories (NYSE:ABT) SVP Daniel Gesua Sive Salvadori sold 815 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $41.71, for a total transaction of $33,993.65. Following the completion of the transaction, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Abbott Laboratories (NYSE:ABT) opened at 41.44 on Friday. The company has a 50-day moving average of $42.66 and a 200 day moving average of $41.27. The company has a market capitalization of $60.92 billion, a PE ratio of 27.35 and a beta of 0.82. Abbott Laboratories has a 52-week low of $36.00 and a 52-week high of $46.38.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The firm earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 3.2% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.87%.
A number of institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Abbott Laboratories by 13.5% in the second quarter. Nordea Investment Management AB now owns 3,529,762 shares of the healthcare product maker’s stock valued at $138,755,000 after buying an additional 420,435 shares during the period. National Pension Service boosted its stake in Abbott Laboratories by 4.2% in the first quarter. National Pension Service now owns 766,747 shares of the healthcare product maker’s stock valued at $32,073,000 after buying an additional 30,857 shares during the period. MAI Capital Management boosted its stake in Abbott Laboratories by 2.5% in the second quarter. MAI Capital Management now owns 328,683 shares of the healthcare product maker’s stock valued at $12,921,000 after buying an additional 8,170 shares during the period. Panagora Asset Management Inc. boosted its stake in Abbott Laboratories by 41.0% in the first quarter. Panagora Asset Management Inc. now owns 1,536,883 shares of the healthcare product maker’s stock valued at $64,288,000 after buying an additional 446,670 shares during the period. Finally, First Republic Investment Management Inc. boosted its stake in Abbott Laboratories by 10.3% in the first quarter. First Republic Investment Management Inc. now owns 948,975 shares of the healthcare product maker’s stock valued at $39,695,000 after buying an additional 88,798 shares during the period. Hedge funds and other institutional investors own 73.03% of the company’s stock.
ABT has been the subject of several recent research reports. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, July 5th. Edward Jones raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Barclays PLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Abbott Laboratories in a report on Saturday, June 18th. Jefferies Group raised their price objective on shares of Abbott Laboratories from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Wednesday, June 8th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $47.02.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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