Abbott Laboratories (NYSE:ABT) EVP Daniel Gesua Sive Salvadori Sells 23,771 Shares

Abbott Laboratories (NYSE:ABT - Get Free Report) EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Abbott Laboratories Stock Up 0.6 %

NYSE ABT traded up $0.73 during trading hours on Tuesday, reaching $129.18. 6,931,348 shares of the company's stock traded hands, compared to its average volume of 7,186,374. The firm has a market cap of $224.06 billion, a PE ratio of 16.89, a PEG ratio of 2.39 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $129.85. The firm has a 50-day simple moving average of $116.58 and a 200 day simple moving average of $114.52.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.55. Abbott Laboratories's dividend payout ratio is currently 30.85%.

Institutional Investors Weigh In On Abbott Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Abbott Laboratories in the third quarter worth $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $34,000. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories during the third quarter valued at approximately $37,000. Institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABT shares. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. Barclays reissued an "overweight" rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Royal Bank of Canada restated an "outperform" rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Argus raised Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $133.06.

Abbott Laboratories Company Profile

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.