Abbott Laboratories (NYSE:ABT) EVP Sells $2,428,025.00 in Stock

Abbott Laboratories (NYSE:ABT) EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Abbott Laboratories Price Performance

NYSE ABT opened at $104.67 on Friday. The business has a 50 day simple moving average of $111.69 and a 200 day simple moving average of $108.82. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market cap of $182.09 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.55 and a beta of 0.76.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. Analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Citigroup upped their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Raymond James restated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Royal Bank of Canada cut their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Finally, Barclays cut their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Hedge Funds Weigh In On Abbott Laboratories

Several hedge funds have recently made changes to their positions in the business. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, True Wealth Design LLC boosted its holdings in shares of Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 302 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

About Abbott Laboratories

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 company 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.