Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Thursday. $39.51 million flowed into the stock on the tick-up and $86.40 million flowed out of the stock on the tick-down, for a money net flow of $46.89 million out of the stock. Of all stocks tracked, Abbott Laboratories had the 0th highest net out-flow for the day. Abbott Laboratories traded up $0.08 for the day and closed at $59.07

A number of analysts have issued reports on ABT shares. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, September 24th. Wells Fargo & Co raised their target price on Abbott Laboratories from $57.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Barclays raised their target price on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research note on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $60.24.

The company has a market capitalization of $102,817.30, a price-to-earnings ratio of 46.70, a P/E/G ratio of 1.88 and a beta of 1.06. 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 (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period last year, the business posted $0.59 EPS. Abbott Laboratories’s revenue for the quarter was up 28.8% on a year-over-year basis. research analysts anticipate that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.89%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is 88.19%.

In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the transaction, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock valued at $27,533,150 over the last 90 days. 0.76% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sanders Morris Harris LLC lifted its stake in Abbott Laboratories by 0.3% during the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after purchasing an additional 16 shares during the last quarter. St. Louis Trust Co lifted its stake in Abbott Laboratories by 0.4% during the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after purchasing an additional 20 shares during the last quarter. Lakeview Capital Partners LLC lifted its stake in Abbott Laboratories by 0.6% during the second quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after purchasing an additional 33 shares during the last quarter. Johanson Financial Advisors Inc. lifted its stake in Abbott Laboratories by 0.5% during the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after purchasing an additional 37 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY lifted its stake in Abbott Laboratories by 0.3% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock worth $803,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 71.19% of the company’s stock.

WARNING: This article was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2018/01/20/traders-sell-shares-of-abbott-laboratories-abt-on-strength-abt.html.

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.

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.