Investors Sell Shares of Abbott Laboratories (ABT) on Strength (ABT)

Investors sold shares of Abbott Laboratories (NYSE:ABT) on strength during trading hours on Friday. $39.46 million flowed into the stock on the tick-up and $156.26 million flowed out of the stock on the tick-down, for a money net flow of $116.80 million out of the stock. Of all companies tracked, Abbott Laboratories had the 0th highest net out-flow for the day. Abbott Laboratories traded up $0.65 for the day and closed at $61.71

A number of equities research analysts have commented on ABT shares. Citigroup lifted their target price on shares of Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. William Blair raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Friday, April 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $67.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Argus lifted their target price on shares of Abbott Laboratories from $66.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $68.35.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.66. The stock has a market cap of $108.19 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.77 and a beta of 1.50.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. equities analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.

In related news, insider Stephen R. Fussell sold 56,401 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.61, for a total value of $3,362,063.61. Following the completion of the transaction, the insider now owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jaime Contreras sold 849 shares of the company’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $59.36, for a total transaction of $50,396.64. Following the completion of the transaction, the insider now directly owns 50,436 shares of the company’s stock, valued at approximately $2,993,880.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,214 shares of company stock valued at $5,173,042. Insiders own 0.74% of the company’s stock.

A number of institutional investors have recently modified their holdings of ABT. Gratus Capital LLC boosted its holdings in Abbott Laboratories by 3.0% in the 3rd quarter. Gratus Capital LLC now owns 211,237 shares of the healthcare product maker’s stock worth $11,272,000 after buying an additional 6,170 shares during the period. Johnson Financial Group LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth $261,000. Capital Planning Advisors LLC lifted its stake in Abbott Laboratories by 2.8% in the 3rd quarter. Capital Planning Advisors LLC now owns 67,880 shares of the healthcare product maker’s stock worth $3,622,000 after purchasing an additional 1,843 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Abbott Laboratories by 2.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 126,600 shares of the healthcare product maker’s stock worth $6,756,000 after purchasing an additional 2,762 shares in the last quarter. Finally, LMR Partners LLP lifted its stake in Abbott Laboratories by 63.2% in the 3rd quarter. LMR Partners LLP now owns 14,443 shares of the healthcare product maker’s stock worth $770,000 after purchasing an additional 5,593 shares in the last quarter. 71.71% of the stock is owned by institutional investors.

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 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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