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.
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.
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.
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