Insider Selling: Abbott Laboratories (NYSE:ABT) SVP Sells $1,987,661.12 in Stock

Abbott Laboratories (NYSE:ABT) SVP Michael J. Pederson sold 23,008 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the transaction, the senior vice president now directly owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE:ABT opened at $83.94 on Friday. Abbott Laboratories has a 12-month low of $63.60 and a 12-month high of $88.76. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $149.58 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The firm has a 50-day moving average price of $85.79 and a 200 day moving average price of $79.78.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 3.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

A number of brokerages have recently commented on ABT. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. BMO Capital Markets upped their price objective on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Cowen upped their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Co upped their price objective on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $85.82.

A number of large investors have recently bought and sold shares of ABT. Norges Bank acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $1,239,454,000. FMR LLC increased its holdings in shares of Abbott Laboratories by 118.2% during the fourth quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock worth $1,718,726,000 after buying an additional 12,871,418 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Abbott Laboratories by 7,888.6% during the second quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock worth $1,040,985,000 after buying an additional 12,222,999 shares in the last quarter. Ronna Sue Cohen increased its holdings in shares of Abbott Laboratories by 7,636.6% during the first quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock worth $6,249,000 after buying an additional 6,168,186 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 1.5% during the second quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock worth $12,474,801,000 after buying an additional 2,262,152 shares in the last quarter. 73.42% of the stock is owned by hedge funds and other institutional investors.

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 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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Insider Buying and Selling by Quarter for Abbott Laboratories (NYSE:ABT)

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