Investors Sell Shares of Abbott Laboratories (ABT) on Strength (ABT)
Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading on Thursday. $50.47 million flowed into the stock on the tick-up and $101.92 million flowed out of the stock on the tick-down, for a money net flow of $51.45 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 $0.31 for the day and closed at $42.28
A number of analysts have recently weighed in on ABT shares. Leerink Swann upped their price target on shares of Abbott Laboratories from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, March 28th. First Global downgraded shares of Abbott Laboratories from an “outperform” rating to a “marketperform” rating in a report on Thursday, April 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 price target (up previously from $45.00) on shares of Abbott Laboratories in a report on Monday, April 11th. TheStreet downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Edward Jones raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.65.
The company has a market capitalization of $62.12 billion and a price-to-earnings ratio of 26.03. The company has a 50 day moving average price of $39.24 and a 200-day moving average price of $39.98.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 20th. The healthcare product maker reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. During the same quarter in the prior year, the company posted $0.47 EPS. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.77 billion. Abbott Laboratories’s revenue was down .2% on a year-over-year basis. On average, equities analysts predict 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. Stockholders of record on Friday, July 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, July 13th.
In other news, EVP Hubert L. Allen sold 3,400 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $37.14, for a total value of $126,276.00. Following the transaction, the executive vice president now owns 91,857 shares in the company, valued at approximately $3,411,568.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Several institutional investors have modified their holdings of the company. 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 acquired 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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