Traders Sell Abbott Laboratories (ABT) on Strength (ABT)
Traders sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Thursday. $36.55 million flowed into the stock on the tick-up and $63.39 million flowed out of the stock on the tick-down, for a money net flow of $26.84 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 $0.24 for the day and closed at $45.05
Several analysts have recently weighed in on ABT shares. Wells Fargo & Co. reissued a “buy” rating on shares of Abbott Laboratories in a report on Saturday, April 30th. Gabelli reissued a “buy” rating on shares of Abbott Laboratories in a report on Saturday, April 30th. BTIG Research reissued a “buy” rating and issued a $45.00 target price on shares of Abbott Laboratories in a report on Thursday, April 28th. Cowen and Company reissued a “buy” rating and issued a $48.00 target price (up from $44.00) on shares of Abbott Laboratories in a report on Thursday, April 21st. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Abbott Laboratories in a report on Sunday, April 17th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.27.
The stock’s 50 day moving average price is $42.34 and its 200-day moving average price is $40.30. The company has a market cap of $65.78 billion and a PE ratio of 29.54.
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, topping the Zacks’ consensus estimate of $0.53 by $0.02. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. On average, equities research analysts forecast that Abbott Laboratories will post $2.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, July 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.31%.
In other news, insider Stephen R. Fussell sold 41,500 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the sale, the insider now owns 196,467 shares of the company’s stock, valued at $8,841,015. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Miles D. White purchased 242,547 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were acquired at an average cost of $43.18 per share, for a total transaction of $10,473,179.46. Following the acquisition, the chairman now owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here.
Other large investors have added to or reduced their stakes in the company. Mizuho Trust & Banking Co. Ltd. boosted its stake in Abbott Laboratories by 1.9% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 2,440,984 shares of the healthcare product maker’s stock worth $110,503,000 after buying an additional 45,434 shares during the period. RBO & Co. LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth $7,558,000. Private Advisor Group LLC boosted its stake in Abbott Laboratories by 33.6% in the fourth quarter. Private Advisor Group LLC now owns 163,441 shares of the healthcare product maker’s stock worth $7,339,000 after buying an additional 41,139 shares during the period. Gratus Capital LLC boosted its stake in Abbott Laboratories by 16.5% in the fourth quarter. Gratus Capital LLC now owns 132,497 shares of the healthcare product maker’s stock worth $5,950,000 after buying an additional 18,812 shares during the period. Finally, American National Bank & Trust Co. VA boosted its stake in 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 worth $1,133,000 after buying an additional 2,307 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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