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Insider Selling: Abbott Laboratories (NYSE:ABT) CFO Sells 5,550 Shares of Stock

Abbott Laboratories logo with Medical background

Key Points

  • Abbott Laboratories' CFO Philip P. Boudreau sold 5,550 shares of the company's stock at an average price of $134.55, totaling approximately $746,752.50, which marked a 9.81% decrease in his ownership.
  • The company recently announced a $0.59 quarterly dividend, providing a 1.8% dividend yield, and had a payout ratio of 29.57%.
  • Wall Street analysts generally hold a positive outlook on Abbott Laboratories, with a consensus rating of "Moderate Buy" and an average price target of $144.47.
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Abbott Laboratories (NYSE:ABT - Get Free Report) CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Abbott Laboratories Price Performance

Shares of ABT traded down $2.90 during trading hours on Monday, hitting $131.38. 7,125,607 shares of the company were exchanged, compared to its average volume of 6,890,859. The company has a market capitalization of $228.66 billion, a PE ratio of 16.46, a PEG ratio of 2.55 and a beta of 0.70. The firm has a fifty day simple moving average of $131.69 and a 200-day simple moving average of $131.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $107.11 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The business's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABT. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Stifel Nicolaus increased their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Raymond James Financial lowered their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Finally, BTIG Research decreased their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

View Our Latest Analysis on ABT

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Three Seasons Wealth LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $1,428,000. Kelly Financial Services LLC acquired a new position in Abbott Laboratories in the first quarter valued at approximately $216,000. Voleon Capital Management LP acquired a new position in Abbott Laboratories during the fourth quarter worth $273,000. Bank Pictet & Cie Europe AG grew its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after acquiring an additional 2,774 shares in the last quarter. Finally, Edge Financial Advisors LLC boosted its holdings in shares of Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after buying an additional 81 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Abbott Laboratories (NYSE:ABT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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