Insider Selling: Abbott Laboratories (NYSE:ABT) Director Sells 50,000 Shares of Stock

Abbott Laboratories (NYSE:ABTGet Rating) Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $113.22, for a total transaction of $5,661,000.00. Following the completion of the sale, the director now owns 6,973,500 shares in the company, valued at approximately $789,539,670. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE ABT opened at $113.01 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 12-month low of $105.36 and a 12-month high of $142.60. The firm has a market capitalization of $199.29 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.73. The firm has a 50 day moving average of $118.77 and a 200 day moving average of $125.44.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $1.73 EPS for the quarter, topping the consensus estimate of $1.47 by $0.26. The firm had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11 billion. Abbott Laboratories had a return on equity of 28.87% and a net margin of 17.35%. Abbott Laboratories’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 EPS. Sell-side analysts predict that Abbott Laboratories will post 4.82 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, April 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.66%. Abbott Laboratories’s payout ratio is currently 43.62%.

Institutional investors have recently added to or reduced their stakes in the stock. Bedel Financial Consulting Inc. increased its position in Abbott Laboratories by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 2,496 shares of the healthcare product maker’s stock worth $351,000 after purchasing an additional 77 shares during the last quarter. Webster Bank N. A. grew its stake in shares of Abbott Laboratories by 0.8% in the 4th quarter. Webster Bank N. A. now owns 10,473 shares of the healthcare product maker’s stock worth $1,474,000 after buying an additional 78 shares in the last quarter. Sequent Asset Management LLC increased its holdings in shares of Abbott Laboratories by 1.3% in the 4th quarter. Sequent Asset Management LLC now owns 6,086 shares of the healthcare product maker’s stock worth $856,000 after buying an additional 80 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Abbott Laboratories by 1.2% in the 4th quarter. Centaurus Financial Inc. now owns 6,878 shares of the healthcare product maker’s stock valued at $968,000 after acquiring an additional 80 shares during the last quarter. Finally, Innovative Portfolios grew its position in Abbott Laboratories by 3.2% in the fourth quarter. Innovative Portfolios now owns 2,608 shares of the healthcare product maker’s stock worth $367,000 after acquiring an additional 81 shares in the last quarter. 73.46% of the stock is owned by institutional investors.

Several analysts recently weighed in on the company. UBS Group upped their price target on Abbott Laboratories from $138.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, January 27th. StockNews.com started coverage on Abbott Laboratories in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. BTIG Research cut their price objective on shares of Abbott Laboratories from $143.00 to $138.00 in a research report on Wednesday, January 26th. Wells Fargo & Company dropped their target price on shares of Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Finally, Bank of America assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, March 1st. They set a “buy” rating and a $140.00 price target for the company. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $138.83.

About Abbott Laboratories (Get Rating)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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