Abbott Laboratories (NYSE:ABT) insider Randel William Woodgrift purchased 2,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average price of $73.40 per share, for a total transaction of $146,800.00. Following the completion of the acquisition, the insider now owns 52,562 shares of the company’s stock, valued at approximately $3,858,050.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website .
ABT stock opened at $76.75 on Thursday. The stock has a market cap of $133.67 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.97 and a beta of 1.13. Abbott Laboratories has a one year low of $56.81 and a one year high of $80.74. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The business had revenue of $7.54 billion during the quarter, compared to analyst estimates of $7.49 billion. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.91%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. Analysts predict that Abbott Laboratories will post 3.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.
A number of analysts recently weighed in on the stock. Argus upped their price objective on shares of Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. Gabelli reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, March 19th. Barclays set a $84.00 price objective on shares of Abbott Laboratories and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $80.48.
Several hedge funds have recently added to or reduced their stakes in ABT. Oregon Public Employees Retirement Fund lifted its position in shares of Abbott Laboratories by 7,559.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock valued at $416,000 after buying an additional 29,702,943 shares during the last quarter. Norges Bank purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $1,239,454,000. FMR LLC lifted its position in shares of Abbott Laboratories by 118.2% during the fourth quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock valued at $1,718,726,000 after buying an additional 12,871,418 shares during the last quarter. Ronna Sue Cohen lifted its position in shares of Abbott Laboratories by 7,636.6% during the first quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock valued at $6,249,000 after buying an additional 6,168,186 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Abbott Laboratories by 3.3% during the fourth quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock valued at $8,755,228,000 after buying an additional 3,842,101 shares during the last quarter. 75.20% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company’s Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière’s disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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