Sharon J. Bracken Sells 2,188 Shares of Abbott Laboratories (ABT) Stock

Abbott Laboratories (NYSE:ABT) insider Sharon J. Bracken sold 2,188 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the transaction, the insider now owns 25,618 shares in the company, valued at approximately $1,437,682.16. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Abbott Laboratories (ABT) opened at $55.98 on Friday. The company has a market cap of $97,438.84, a price-to-earnings ratio of 23.23, a P/E/G ratio of 2.10 and a beta of 1.06. Abbott Laboratories has a twelve month low of $37.42 and a twelve month high of $56.69. 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 announced its earnings results 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 for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. analysts expect that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a $0.265 dividend. The ex-dividend date was Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.89%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.

A number of research analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price target on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Friday, September 22nd. Barclays raised their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 28th. J P Morgan Chase & Co assumed coverage on shares of Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Jefferies Group restated a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a report on Thursday, October 19th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $56.81.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Villere ST Denis J & Co. LLC grew its position in 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 during the last quarter. Private Bank & Trust Co. grew its position 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 purchasing an additional 3,330 shares during the last quarter. Gratus Capital LLC grew its position in Abbott Laboratories by 0.9% in 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 in the 1st quarter worth $2,833,000. Finally, AQR Capital Management LLC grew its position 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 purchasing an additional 460,477 shares during the last quarter. Hedge funds and other institutional investors own 71.10% 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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