Abbott Laboratories (NYSE:ABT) Director Sally E. Blount Sells 2,500 Shares

Abbott Laboratories (NYSE:ABT) Director Sally E. Blount sold 2,500 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total transaction of $219,125.00. Following the transaction, the director now directly owns 26,266 shares in the company, valued at approximately $2,302,214.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Abbott Laboratories stock traded down $0.26 during trading hours on Friday, reaching $85.82. The stock had a trading volume of 4,756,375 shares, compared to its average volume of 5,678,919. The stock has a market cap of $155.79 billion, a PE ratio of 29.80, a PEG ratio of 2.48 and a beta of 1.10. Abbott Laboratories has a 52 week low of $63.07 and a 52 week high of $88.76. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $85.25.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.39%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. Research analysts predict that Abbott Laboratories will post 3.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

A number of institutional investors have recently made changes to their positions in ABT. Norges Bank bought a new stake in Abbott Laboratories in the 4th quarter worth $1,239,454,000. FMR LLC lifted its position in shares of Abbott Laboratories by 118.2% in the 4th quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock worth $1,718,726,000 after purchasing an additional 12,871,418 shares during the period. Ronna Sue Cohen lifted its position in shares of Abbott Laboratories by 7,636.6% in the 1st quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock worth $6,249,000 after purchasing an additional 6,168,186 shares during the period. Geode Capital Management LLC lifted its position in shares of Abbott Laboratories by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock worth $1,598,270,000 after purchasing an additional 1,778,840 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in shares of Abbott Laboratories by 11,001.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,787,006 shares of the healthcare product maker’s stock worth $129,254,000 after purchasing an additional 1,770,909 shares during the period. 73.42% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of Abbott Laboratories to $82.00 and gave the company a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a report on Thursday, April 18th. Cowen increased their target price on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Raymond James increased their target price on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $85.82.

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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