Abbott Laboratories (ABT) Short Interest Update
Abbott Laboratories (NYSE:ABT) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 72,079,358 shares, an increase of 6.4% from the September 15th total of 67,739,636 shares. Based on an average daily trading volume, of 7,111,021 shares, the short-interest ratio is currently 10.1 days. Approximately 4.9% of the shares of the stock are short sold.
Abbott Laboratories (NYSE:ABT) opened at 40.79 on Monday. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.38. The firm’s 50-day moving average is $41.96 and its 200-day moving average is $41.39. The firm has a market cap of $59.96 billion, a price-to-earnings ratio of 26.92 and a beta of 0.87.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The business earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period last year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post $2.20 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 68.87%.
ABT has been the subject of a number of recent analyst reports. Bank of America Corp. reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Monday, September 19th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Abbott Laboratories in a research note on Monday, September 19th. Barclays PLC reaffirmed an “overweight” rating and set a $48.00 price target on shares of Abbott Laboratories in a research note on Tuesday, July 12th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, July 5th. Finally, Argus reaffirmed a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, July 28th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $47.02.
In other Abbott Laboratories news, Chairman Miles D. White bought 242,547 shares of Abbott Laboratories stock in a transaction dated Monday, July 25th. The shares were purchased at an average cost of $43.18 per share, for a total transaction of $10,473,179.46. Following the acquisition, 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 is accessible through the SEC website. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $41.71, for a total transaction of $33,993.65. Following the completion of the sale, the senior vice president now owns 59,791 shares in the company, valued at $2,493,882.61. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. MCF Advisors LLC raised its position in Abbott Laboratories by 0.3% in the first quarter. MCF Advisors LLC now owns 5,456 shares of the healthcare product maker’s stock valued at $228,000 after buying an additional 18 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in Abbott Laboratories during the first quarter valued at approximately $268,822,000. guardian investment management raised its position in Abbott Laboratories by 20.7% in the first quarter. guardian investment management now owns 31,466 shares of the healthcare product maker’s stock valued at $1,316,000 after buying an additional 5,400 shares during the last quarter. First Long Island Investors LLC raised its position in Abbott Laboratories by 10.0% in the first quarter. First Long Island Investors LLC now owns 225,130 shares of the healthcare product maker’s stock valued at $9,417,000 after buying an additional 20,456 shares during the last quarter. Finally, Dubuque Bank & Trust Co. raised its position in Abbott Laboratories by 35.8% in the first quarter. Dubuque Bank & Trust Co. now owns 24,675 shares of the healthcare product maker’s stock valued at $1,032,000 after buying an additional 6,509 shares during the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.
Abbott Laboratories Company Profile
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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