Traders Sell Abbott Laboratories (ABT) on Strength (ABT)

Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading on Wednesday. $90.28 million flowed into the stock on the tick-up and $122.97 million flowed out of the stock on the tick-down, for a money net flow of $32.69 million out of the stock. Of all stocks tracked, Abbott Laboratories had the 19th highest net out-flow for the day. Abbott Laboratories traded up $0.71 for the day and closed at $55.77

A number of equities research analysts have recently weighed in on ABT shares. Royal Bank Of Canada reissued a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research report on Thursday, June 29th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Wells Fargo & Company restated an “outperform” rating and issued a $54.00 price target (up previously from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. Finally, Cowen and Company restated an “outperform” rating and issued a $55.00 price target (up previously from $48.00) on shares of Abbott Laboratories in a research report on Friday, July 14th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $54.94.

The stock’s 50-day moving average price is $52.59 and its 200 day moving average price is $48.17. The firm has a market capitalization of $96.90 billion, a PE ratio of 78.11 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. Analysts expect that Abbott Laboratories will post $2.50 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s payout ratio is 149.30%.

In related news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of Abbott Laboratories stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the sale, the insider now owns 113,426 shares of the company’s stock, valued at $6,005,906.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now directly owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. In the last three months, insiders sold 333,310 shares of company stock valued at $16,857,255. Corporate insiders own 0.76% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ABT. Capital Research Global Investors grew its holdings in shares of Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after acquiring an additional 14,918,038 shares during the period. State Street Corp grew its holdings in shares of Abbott Laboratories by 18.9% in the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after acquiring an additional 12,806,535 shares during the period. Boston Partners grew its holdings in shares of Abbott Laboratories by 5,663.7% in the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after acquiring an additional 8,069,557 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Abbott Laboratories by 3,373.9% in the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock worth $382,779,000 after acquiring an additional 7,647,798 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Abbott Laboratories by 11.0% in the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after acquiring an additional 3,344,508 shares during the period. 71.45% of the stock is owned by institutional investors.

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About Abbott Laboratories

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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