Investors Sell Shares of Abbott Laboratories (ABT) on Strength (ABT)

Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading on Monday. $73.49 million flowed into the stock on the tick-up and $134.92 million flowed out of the stock on the tick-down, for a money net flow of $61.43 million out of the stock. Of all companies tracked, Abbott Laboratories had the 21st highest net out-flow for the day. Abbott Laboratories traded up $0.10 for the day and closed at $52.61

A number of equities analysts have issued reports on the stock. Jefferies Group LLC restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 29th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Morgan Stanley restated an “equal weight” rating on shares of Abbott Laboratories in a research report on Monday, July 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $52.71.

The stock’s 50 day moving average price is $50.15 and its 200-day moving average price is $47.04. The company has a market capitalization of $91.43 billion, a PE ratio of 73.704 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 24.5% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 149.30%.

In other news, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. Insiders sold 218,150 shares of company stock valued at $10,811,179 over the last three months. 0.76% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Morris Harris LLC lifted its position in shares of Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after purchasing an additional 16 shares in the last quarter. St. Louis Trust Co lifted its position in shares of Abbott Laboratories by 0.4% in the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock worth $238,000 after purchasing an additional 20 shares in the last quarter. Janney Capital Management LLC lifted its position in shares of Abbott Laboratories by 0.4% in the first quarter. Janney Capital Management LLC now owns 6,229 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 26 shares in the last quarter. Alpha Windward LLC lifted its position in shares of Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after purchasing an additional 30 shares in the last quarter. Finally, Lakeview Capital Partners LLC lifted its position in shares of Abbott Laboratories by 0.6% in the second quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock worth $277,000 after purchasing an additional 33 shares in the last quarter. 71.50% of the stock is owned by institutional investors and hedge funds.

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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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