Investors Buy Shares of Abbott Laboratories (ABT) on Weakness

Investors purchased shares of Abbott Laboratories (NYSE:ABT) on weakness during trading hours on Thursday. $56.53 million flowed into the stock on the tick-up and $23.71 million flowed out of the stock on the tick-down, for a money net flow of $32.82 million into the stock. Of all equities tracked, Abbott Laboratories had the 10th highest net in-flow for the day. Abbott Laboratories traded down ($0.01) for the day and closed at $57.46

Several brokerages have recently weighed in on ABT. BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Barclays lifted their price target on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Bank of America reiterated a “buy” rating and issued a $60.00 price target (up from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Stifel Nicolaus lifted their price target on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.56.

The firm has a market cap of $100,014.93, a price-to-earnings ratio of 44.94, a PEG ratio of 2.08 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. analysts forecast that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.96%. Abbott Laboratories’s payout ratio is currently 83.47%.

In other news, Chairman Miles D. White sold 276,886 shares of the business’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 $200,115,246.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the sale, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 501,172 shares of company stock valued at $27,533,150. Insiders own 0.76% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Argent Trust Co raised its holdings in shares of Abbott Laboratories by 11.6% in the 1st quarter. Argent Trust Co now owns 29,262 shares of the healthcare product maker’s stock valued at $1,300,000 after purchasing an additional 3,045 shares in the last quarter. Assetmark Inc. grew its position in Abbott Laboratories by 15.7% during the 1st quarter. Assetmark Inc. now owns 13,618 shares of the healthcare product maker’s stock worth $605,000 after purchasing an additional 1,847 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Abbott Laboratories by 19.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,710,387 shares of the healthcare product maker’s stock worth $164,778,000 after purchasing an additional 604,021 shares during the last quarter. Milestone Group Inc. purchased a new position in Abbott Laboratories during the 1st quarter worth $232,000. Finally, Signature Financial Management Inc. grew its position in Abbott Laboratories by 5.2% during the 1st quarter. Signature Financial Management Inc. now owns 6,137 shares of the healthcare product maker’s stock worth $273,000 after purchasing an additional 304 shares during the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This story was reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.com-unik.info/2017/12/30/investors-buy-shares-of-abbott-laboratories-abt-on-weakness.html.

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.

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit