Abbott Laboratories (ABT) Chairman Sells $10,298,371.35 in Stock

Abbott Laboratories (NYSE:ABT) Chairman Miles D. White sold 142,341 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the sale, the chairman now directly owns 3,459,185 shares of the company’s stock, valued at $250,272,034.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NYSE:ABT opened at $74.05 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. The company has a market capitalization of $130.06 billion, a P/E ratio of 29.62, a PEG ratio of 2.20 and a beta of 1.39. Abbott Laboratories has a 52 week low of $54.32 and a 52 week high of $74.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, research analysts expect that Abbott Laboratories will post 2.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, October 15th were paid a $0.28 dividend. The ex-dividend date was Friday, October 12th. This represents a $1.12 annualized dividend and a yield of 1.51%. Abbott Laboratories’s dividend payout ratio is presently 44.80%.

Several research firms recently commented on ABT. JPMorgan Chase & Co. increased their target price on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Barclays assumed coverage on shares of Abbott Laboratories in a research report on Monday, October 15th. They issued an “overweight” rating and a $80.00 price target for the company. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, October 18th. Finally, Royal Bank of Canada upped their price target on shares of Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $75.90.

A number of institutional investors have recently added to or reduced their stakes in ABT. Signature Estate & Investment Advisors LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $103,000. Atlantic Trust LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $104,000. Fort L.P. acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $119,000. Security National Bank of SO Dak increased its stake in Abbott Laboratories by 72.0% in the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after buying an additional 878 shares during the period. Finally, Mainstay Capital Management LLC ADV increased its stake in Abbott Laboratories by 1,069.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 72.39% of the company’s stock.

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About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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