Investors Buy Abbott Laboratories (ABT) on Weakness on Insider Selling

Investors bought shares of Abbott Laboratories (NYSE:ABT) on weakness during trading on Monday following insider selling activity. $63.82 million flowed into the stock on the tick-up and $30.82 million flowed out of the stock on the tick-down, for a money net flow of $33.00 million into the stock. Of all stocks tracked, Abbott Laboratories had the 7th highest net in-flow for the day. Abbott Laboratories traded down ($0.27) for the day and closed at $55.29Specifically, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total value of $3,913,635.00. Following the sale, the insider now directly owns 144,955 shares of the company’s stock, valued at approximately $7,972,525. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 23,866 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.55, for a total value of $1,325,756.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,786 shares of company stock worth $16,715,522. Insiders own 0.76% of the company’s stock.

Several equities analysts recently issued reports on the company. BidaskClub cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a research report on Thursday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Barclays PLC upped their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $56.81.

The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The firm has a market cap of $96,240.00, a P/E ratio of 23.05, a P/E/G ratio of 2.08 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm 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 7.07% and a net margin of 8.21%. Abbott Laboratories’s revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. equities research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is 87.60%.

Large investors have recently bought and sold shares of the company. Villere ST Denis J & Co. LLC increased its stake in shares of Abbott Laboratories by 2.3% in 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 in the last quarter. Private Bank & Trust Co. increased its stake in Abbott Laboratories by 12.3% in the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after buying an additional 3,330 shares in the last quarter. Comerica Securities Inc. purchased a new stake in Abbott Laboratories in the 1st quarter worth $2,833,000. AQR Capital Management LLC increased its stake in Abbott Laboratories by 264.8% in the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after buying an additional 460,477 shares in the last quarter. Finally, Century Capital Management LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth $4,332,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.

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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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