Investors Sell Abbott Laboratories (ABT) on Strength (ABT)
Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Tuesday. $35.44 million flowed into the stock on the tick-up and $74.93 million flowed out of the stock on the tick-down, for a money net flow of $39.49 million out of the stock. Of all equities tracked, Abbott Laboratories had the 0th highest net out-flow for the day. Abbott Laboratories traded up $0.39 for the day and closed at $62.65
A number of research firms have recently weighed in on ABT. Leerink Swann reaffirmed a “market perform” rating and issued a $68.00 target price (up from $60.00) on shares of Abbott Laboratories in a research report on Thursday, January 25th. Bank of America upped their target price on shares of Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets upped their target price on shares of Abbott Laboratories from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Evercore ISI began coverage on shares of Abbott Laboratories in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 target price on the stock. Finally, ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.47.
The firm has a market cap of $109,407.83, a PE ratio of 240.09, a P/E/G ratio of 1.86 and a beta of 1.52. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is presently 430.79%.
In other news, insider Stephen R. Fussell sold 56,401 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the sale, the insider now owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the sale, the insider now directly owns 156,587 shares in the company, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,261 shares of company stock worth $7,559,987. Insiders own 0.76% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Abbott Laboratories by 10.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 198,828 shares of the healthcare product maker’s stock worth $11,347,000 after purchasing an additional 18,313 shares during the period. Certified Advisory Corp bought a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $144,000. Ackerman Capital Advisors LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $253,000. Rehmann Capital Advisory Group lifted its stake in shares of Abbott Laboratories by 11.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 8,886 shares of the healthcare product maker’s stock worth $507,000 after purchasing an additional 892 shares during the period. Finally, Colonial Trust Advisors lifted its stake in shares of Abbott Laboratories by 33.5% in the 4th quarter. Colonial Trust Advisors now owns 10,944 shares of the healthcare product maker’s stock worth $625,000 after purchasing an additional 2,744 shares during the period. 72.35% of the stock is currently owned by hedge funds and other institutional investors.
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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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