Abbott Laboratories (NYSE:ABT) Short Interest Down 8.1% in August

Abbott Laboratories (NYSE:ABTGet Rating) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 12,940,000 shares, a drop of 8.1% from the August 15th total of 14,080,000 shares. Based on an average daily volume of 4,740,000 shares, the short-interest ratio is currently 2.7 days. Currently, 0.7% of the company’s shares are short sold.

Insider Activity at Abbott Laboratories

In related news, EVP Joseph J. Manning sold 23,008 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $107.00, for a total value of $2,461,856.00. Following the completion of the sale, the executive vice president now owns 53,245 shares in the company, valued at approximately $5,697,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Abbott Laboratories news, CEO Robert B. Ford sold 102,425 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total value of $10,764,867.50. Following the completion of the transaction, the chief executive officer now owns 142,071 shares of the company’s stock, valued at approximately $14,931,662.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph J. Manning sold 23,008 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the transaction, the executive vice president now directly owns 53,245 shares of the company’s stock, valued at approximately $5,697,215. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,788 shares of company stock worth $21,776,756. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ABT. Gamco Investors INC. ET AL increased its stake in shares of Abbott Laboratories by 6.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 25,472 shares of the healthcare product maker’s stock worth $3,585,000 after acquiring an additional 1,542 shares during the period. Invesco Ltd. increased its stake in shares of Abbott Laboratories by 8.3% during the fourth quarter. Invesco Ltd. now owns 5,715,983 shares of the healthcare product maker’s stock worth $804,469,000 after acquiring an additional 439,875 shares during the period. Schroder Investment Management Group boosted its holdings in Abbott Laboratories by 16.0% during the fourth quarter. Schroder Investment Management Group now owns 1,366,698 shares of the healthcare product maker’s stock worth $192,350,000 after buying an additional 188,095 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Abbott Laboratories by 2.8% during the fourth quarter. GHP Investment Advisors Inc. now owns 25,046 shares of the healthcare product maker’s stock worth $3,525,000 after buying an additional 685 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Abbott Laboratories by 238.5% during the fourth quarter. Public Sector Pension Investment Board now owns 1,014,565 shares of the healthcare product maker’s stock worth $142,790,000 after buying an additional 714,812 shares in the last quarter. 73.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BTIG Research decreased their price target on shares of Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Erste Group Bank cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Morgan Stanley decreased their price target on shares of Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, July 21st. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $143.00 to $132.00 in a research report on Thursday, July 21st. Finally, Cowen decreased their price objective on shares of Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.46.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $104.09 on Tuesday. The company’s fifty day moving average price is $107.52 and its 200 day moving average price is $112.06. Abbott Laboratories has a 12 month low of $101.21 and a 12 month high of $142.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.01 and a quick ratio of 1.54. The firm has a market capitalization of $182.28 billion, a P/E ratio of 21.71, a P/E/G ratio of 3.85 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.34. The company had revenue of $11.26 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. Abbott Laboratories’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 4.99 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.81%. Abbott Laboratories’s dividend payout ratio is presently 39.25%.

About Abbott Laboratories

(Get Rating)

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 Established Pharmaceutical Products segment 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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