Alejandro D. Wellisch Sells 2,153 Shares of Abbott Laboratories (ABT) Stock
Abbott Laboratories (NYSE:ABT) insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Abbott Laboratories (NYSE:ABT) traded up $0.33 on Friday, reaching $56.13. 2,148,282 shares of the company’s stock were exchanged, compared to its average volume of 6,619,619. 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 twelve month low of $37.38 and a twelve month high of $56.69. The stock has a market cap of $97,125.53, a price-to-earnings ratio of 23.15, a P/E/G ratio of 2.09 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the firm posted $0.59 EPS. The company’s revenue was up 28.8% on a year-over-year basis. equities research analysts expect that Abbott Laboratories will post 2.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 83.47%.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Heritage Trust Co grew its holdings in shares of Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares in the last quarter. Tributary Capital Management LLC purchased a new position in shares of Abbott Laboratories in the third quarter valued at $106,000. Winfield Associates Inc. grew its holdings in shares of Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. 69.99% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on ABT shares. BidaskClub lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a report on Thursday, August 3rd. Cowen Inc reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a report on Thursday, August 17th. Finally, Citigroup Inc. started coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $56.81.
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.
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