Abbott Laboratories (ABT) SVP Sharon J. Bracken Sells 2,100 Shares

Abbott Laboratories (NYSE:ABT) SVP Sharon J. Bracken sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $60.27, for a total value of $126,567.00. Following the sale, the senior vice president now owns 44,790 shares of the company’s stock, valued at $2,699,493.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

ABT traded up $0.69 during trading hours on Friday, reaching $59.92. The company’s stock had a trading volume of 6,656,596 shares, compared to its average volume of 6,703,949. Abbott Laboratories has a fifty-two week low of $42.31 and a fifty-two week high of $64.60. The stock has a market capitalization of $104,640.33, a PE ratio of 23.97, a P/E/G ratio of 1.78 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26.

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Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. equities research analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s payout ratio is 44.80%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IFG Advisory LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $102,000. Icon Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $102,000. SWS Partners purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $104,000. Finally, Tributary Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth $106,000. 72.37% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the company. Barclays boosted their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Guggenheim restated a “buy” rating and set a $72.00 target price on shares of Abbott Laboratories in a report on Thursday, January 25th. Royal Bank of Canada restated a “buy” rating and set a $67.00 target price on shares of Abbott Laboratories in a report on Thursday, January 25th. Leerink Swann restated a “market perform” rating and set a $68.00 target price (up from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Citigroup boosted their target price on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $65.47.

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Abbott Laboratories Company Profile

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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