Investors Buy Shares of Abbott Laboratories (ABT) on Weakness After Insider Selling

Traders bought shares of Abbott Laboratories (NYSE:ABT) on weakness during trading on Thursday after an insider sold shares in the company. $82.71 million flowed into the stock on the tick-up and $47.96 million flowed out of the stock on the tick-down, for a money net flow of $34.75 million into the stock. Of all stocks tracked, Abbott Laboratories had the 26th highest net in-flow for the day. Abbott Laboratories traded down ($0.33) for the day and closed at $54.73Specifically, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the sale, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders sold a total of 616,332 shares of company stock valued at $33,579,226 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.

Several equities research analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $58.00 to $65.00 in a research report on Tuesday. Barclays raised their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Cowen reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.56.

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 stock has a market cap of $95,260.00, a PE ratio of 23.11, a P/E/G ratio of 2.09 and a beta of 1.55.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the company earned $0.59 EPS. Abbott Laboratories’s revenue was up 28.8% on a year-over-year basis. equities research analysts predict that Abbott Laboratories will post 2.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 87.60%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tributary Capital Management LLC acquired a new position in Abbott Laboratories during the third quarter valued at approximately $106,000. Heritage Trust Co grew its holdings in Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after purchasing an additional 200 shares during the period. Winfield Associates Inc. grew its holdings in Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares during the period. Thompson Davis & CO. Inc. grew its holdings in Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after purchasing an additional 370 shares during the period. Finally, JFS Wealth Advisors LLC grew its holdings in Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares during the period. Hedge funds and other institutional investors own 71.32% 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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