Abbott Laboratories (ABT) Chairman Miles D. White Sells 276,886 Shares
Abbott Laboratories (NYSE:ABT) Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the transaction, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Abbott Laboratories (ABT) traded down $0.05 during trading on Friday, reaching $54.64. 5,030,945 shares of the company were exchanged, compared to its average volume of 5,121,944. Abbott Laboratories has a 1 year low of $37.90 and a 1 year high of $56.69. The firm has a market cap of $95,193.46, a PE ratio of 22.69, a P/E/G ratio of 2.05 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results 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 firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. sell-side analysts predict that Abbott Laboratories will post 2.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.94%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Villere ST Denis J & Co. LLC boosted its stake in Abbott Laboratories by 2.3% during the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after purchasing an additional 5,950 shares during the last quarter. Private Bank & Trust Co. boosted its stake in Abbott Laboratories by 12.3% during the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after purchasing an additional 3,330 shares during the last quarter. Gratus Capital LLC boosted its stake in Abbott Laboratories by 0.9% during the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after purchasing an additional 1,869 shares during the last quarter. Comerica Securities Inc. acquired a new stake in Abbott Laboratories during the 1st quarter worth $2,833,000. Finally, AQR Capital Management LLC boosted its stake in Abbott Laboratories by 264.8% during the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after purchasing an additional 460,477 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 31st. Barclays reaffirmed an “overweight” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Citigroup reaffirmed a “neutral” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $56.81.
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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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