Insider Selling: Abbott Laboratories (ABT) Insider Sells 9,188 Shares of Stock

Abbott Laboratories (NYSE:ABT) insider Roger Bird sold 9,188 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $79.06, for a total value of $726,403.28. Following the sale, the insider now owns 60,195 shares in the company, valued at $4,759,016.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE ABT traded up $0.36 during trading hours on Thursday, reaching $78.98. 5,382,111 shares of the stock traded hands, compared to its average volume of 6,356,053. The stock has a market cap of $137.43 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 2.09 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a 52-week low of $56.81 and a 52-week high of $79.14.

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Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.82 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. Abbott Laboratories’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. On average, analysts forecast that Abbott Laboratories will post 3.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.62%. Abbott Laboratories’s dividend payout ratio is 44.44%.

Several hedge funds and other institutional investors have recently made changes to their positions in ABT. First Trust Advisors LP grew its position in shares of Abbott Laboratories by 30.2% in the 3rd quarter. First Trust Advisors LP now owns 56,019 shares of the healthcare product maker’s stock worth $4,110,000 after buying an additional 12,978 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Abbott Laboratories by 49.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 365,246 shares of the healthcare product maker’s stock worth $26,794,000 after buying an additional 121,364 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Abbott Laboratories by 58.5% in the 3rd quarter. WINTON GROUP Ltd now owns 9,540 shares of the healthcare product maker’s stock worth $700,000 after buying an additional 3,520 shares during the last quarter. Forbes J M & Co. LLP grew its position in shares of Abbott Laboratories by 1,508.3% in the 3rd quarter. Forbes J M & Co. LLP now owns 144,636 shares of the healthcare product maker’s stock worth $10,611,000 after buying an additional 135,643 shares during the last quarter. Finally, Virginia Retirement Systems ET AL grew its position in shares of Abbott Laboratories by 52.3% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 283,200 shares of the healthcare product maker’s stock worth $20,776,000 after buying an additional 97,200 shares during the last quarter. 74.31% of the stock is currently owned by institutional investors.

ABT has been the topic of a number of research analyst reports. Wells Fargo & Co restated a “buy” rating on shares of Abbott Laboratories in a report on Thursday. Credit Suisse Group initiated coverage on Abbott Laboratories in a research report on Monday, December 17th. They issued an “outperform” rating and a $82.00 price target for the company. Argus increased their price target on Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a research report on Friday, January 25th. They noted that the move was a valuation call. Barclays set a $84.00 price target on Abbott Laboratories and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, Morgan Stanley raised their target price on Abbott Laboratories from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $79.71.

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About Abbott Laboratories

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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