Traders Sell Shares of 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 equities 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 equities analysts have recently issued reports on the company. Credit Suisse Group AG reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, April 17th. BMO Capital Markets restated a “buy” rating on shares of Abbott Laboratories in a research report on Monday, May 2nd. Barclays PLC restated a “buy” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research report on Saturday, June 18th. Wells Fargo & Co. restated a “buy” rating on shares of Abbott Laboratories in a research report on Saturday, April 30th. Finally, S&P Equity Research restated a “hold” rating on shares of Abbott Laboratories in a research report on Saturday, April 30th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.08.
The firm has a market capitalization of $66.21 billion and a PE ratio of 29.73. The stock has a 50 day moving average price of $42.49 and a 200 day moving average price of $40.34.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Abbott Laboratories’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post $2.20 EPS for the current fiscal year.
The firm also recently disclosed 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 of this dividend is Wednesday, July 13th. This represents a $1.04 dividend on an annualized basis and a yield of 2.31%.
In other news, Chairman Miles D. White purchased 242,547 shares of Abbott Laboratories stock in a transaction dated Monday, July 25th. The shares were bought at an average cost of $43.18 per share, with a total value of $10,473,179.46. Following the completion of the transaction, the chairman now directly owns 2,010,517 shares in the company, valued at approximately $86,814,124.06. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen R. Fussell sold 41,500 shares of Abbott Laboratories stock in a transaction 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 transaction, the insider now directly owns 196,467 shares in the company, valued at $8,841,015. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in ABT. 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 worth $1,133,000 after buying an additional 2,307 shares in the last quarter. Home Federal Bank of Tennessee purchased a new position in shares of Abbott Laboratories during the fourth quarter worth $1,133,000. Aviance Capital Partners LLC boosted its position in shares of Abbott Laboratories by 336.2% in the fourth quarter. Aviance Capital Partners LLC now owns 29,129 shares of the healthcare product maker’s stock worth $1,308,000 after buying an additional 22,451 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its position in shares of Abbott Laboratories by 43.2% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 34,133 shares of the healthcare product maker’s stock worth $1,533,000 after buying an additional 10,300 shares in the last quarter. Finally, Sawtooth Asset Management Inc. boosted its position in shares of Abbott Laboratories by 527.7% in the fourth quarter. Sawtooth Asset Management Inc. now owns 40,359 shares of the healthcare product maker’s stock worth $1,813,000 after buying an additional 33,929 shares in the last quarter.
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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