Abbott Laboratories (NYSE:ABT) Trading Down 1.7% - Time to Sell?

Abbott Laboratories (NYSE:ABT - Get Free Report) shares traded down 1.7% during trading on Monday . The stock traded as low as $116.76 and last traded at $117.32. 2,920,616 shares were traded during mid-day trading, a decline of 49% from the average session volume of 5,718,240 shares. The stock had previously closed at $119.39.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ABT shares. Mizuho increased their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They issued an "overweight" rating and a $131.00 price objective for the company. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a "hold" rating in a report on Thursday. Raymond James reissued a "buy" rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $129.67.

Abbott Laboratories Price Performance

The stock has a market capitalization of $203.52 billion, a PE ratio of 36.45, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock's 50-day moving average is $114.16 and its 200 day moving average is $108.52.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, equities analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories's payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now owns 220,059 shares of the company's stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Abbott Laboratories

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Abbott Laboratories by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker's stock valued at $18,788,216,000 after buying an additional 8,834,840 shares during the period. Capital International Investors raised its position in Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker's stock worth $7,976,382,000 after purchasing an additional 5,882,780 shares in the last quarter. Swedbank AB acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $341,777,000. Sessa Capital IM L.P. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $264,876,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Abbott Laboratories by 493.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker's stock worth $249,508,000 after buying an additional 1,996,320 shares during the period. Institutional investors own 75.18% of the company's stock.

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.