Investors Sell Abbott Laboratories (ABT) on Strength (ABT)
Traders sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Tuesday. $42.44 million flowed into the stock on the tick-up and $58.77 million flowed out of the stock on the tick-down, for a money net flow of $16.33 million out of the stock. Of all stocks tracked, Abbott Laboratories had the 0th highest net out-flow for the day. Abbott Laboratories traded up $0.19 for the day and closed at $43.60
A number of equities research analysts have recently issued reports on ABT shares. Zacks Investment Research upgraded Abbott Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, March 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 price objective (up previously from $45.00) on shares of Abbott Laboratories in a research note on Monday, April 11th. First Global cut Abbott Laboratories from an “outperform” rating to a “marketperform” rating in a research note on Thursday, April 14th. Credit Suisse Group AG restated a “buy” rating on shares of Abbott Laboratories in a research note on Sunday, April 17th. Finally, Cowen and Company restated a “buy” rating and issued a $48.00 price target (up previously from $44.00) on shares of Abbott Laboratories in a research note on Thursday, April 21st. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $46.77.
The company’s 50-day moving average is $40.02 and its 200-day moving average is $39.91. The stock has a market capitalization of $64.05 billion and a PE ratio of 28.78.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The firm earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post $2.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $1.04 annualized dividend and a dividend yield of 2.39%.
In other Abbott Laboratories news, EVP Hubert L. Allen sold 3,400 shares of the business’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $37.14, for a total value of $126,276.00. Following the sale, the executive vice president now directly owns 91,857 shares in the company, valued at $3,411,568.98. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Several institutional investors recently made changes to their positions in ABT. Wellington Shields & Co. LLC boosted its position in shares of Abbott Laboratories by 22.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 22,274 shares of the healthcare product maker’s stock valued at $1,000,000 after buying an additional 4,124 shares during the period. Baldwin Investment Management LLC boosted its position in shares of Abbott Laboratories by 0.6% in the fourth quarter. Baldwin Investment Management LLC now owns 23,068 shares of the healthcare product maker’s stock valued at $1,036,000 after buying an additional 143 shares during the period. American National Bank & Trust Co. VA boosted its position in shares of Abbott Laboratories by 10.1% in the fourth quarter. American National Bank & Trust Co. VA now owns 25,243 shares of the healthcare product maker’s stock valued at $1,133,000 after buying an additional 2,307 shares during the period. Home Federal Bank of Tennessee bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $1,133,000. Finally, Wetherby Asset Management Inc. boosted its position in shares of Abbott Laboratories by 8.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 26,018 shares of the healthcare product maker’s stock valued at $1,169,000 after buying an additional 2,016 shares during the period.
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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