Abbott Laboratories (NYSE:ABT) Sees Large Increase in Short Interest

Abbott Laboratories (NYSE:ABTGet Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 15,720,000 shares, an increase of 5.4% from the February 29th total of 14,920,000 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average trading volume of 5,470,000 shares, the days-to-cover ratio is presently 2.9 days.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC lifted its holdings in Abbott Laboratories by 0.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after purchasing an additional 130 shares in the last quarter. Rockland Trust Co. lifted its holdings in Abbott Laboratories by 1.5% in the 3rd quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after purchasing an additional 1,343 shares in the last quarter. VisionPoint Advisory Group LLC lifted its holdings in Abbott Laboratories by 7.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock valued at $301,000 after purchasing an additional 215 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after acquiring an additional 11,508 shares during the period. Finally, Boston Partners lifted its holdings in shares of Abbott Laboratories by 634.6% during the 3rd quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock worth $2,882,000 after acquiring an additional 25,707 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABT. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $128.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Raymond James lifted their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Citigroup lifted their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.92.

Get Our Latest Research Report on ABT

Abbott Laboratories Trading Down 0.6 %

NYSE:ABT opened at $111.31 on Thursday. The company has a market capitalization of $193.14 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a fifty day simple moving average of $115.03 and a 200-day simple moving average of $106.77.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. On average, equities research analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.98%. Abbott Laboratories’s dividend payout ratio (DPR) is 67.48%.

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.

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