( ) saw a significant drop in short interest for the month of the April. On April 30, there were 11,240,000 shorted shares. This is a 10.8% decrease from the total of 12,600,000.000 shares on April 15. The short-interest rate is currently 2.1 days based on a daily average volume of 5,300,000. At the moment, 0.7% are shorted.
Analyst Upgrades and downgrades
A number of analysts have commented recently on ABT's shares. Citigroup raised their price target on Abbott Laboratories shares from $125.00 up to $130.00 in a report published on Wednesday, April 19. The company was given a "buy" rating. BTIG Research raised their price target on Abbott Laboratories to $130.00 in a Monday, April 17, research note. The company was also given a 'buy rating'. Abbott Laboratories was the subject of a research report published on Thursday 16th March. The company was given a rating of 'buy'. In a Thursday, April 20, 2015 research report, Raymond James raised their price target for Abbott Laboratories, from $116.00 up to $123,00. Four analysts have given the stock a hold, and 12 have assigned a purchase rating. In a Wednesday, 22nd February transaction, 260 shares were sold. The stock was bought at an average of $103.24, resulting in a value of $26,842.40. After the sale was completed, the senior vice-president now owns directly 40,896 company shares, worth $4,222.103.04. On March 1, 2013, the company sold 1,032 of its shares. The stock was bought at an average of $100.70 for a value of $103,922.40. After the completion of this transaction, the senior executive vice president owns 52203 shares valued at $5,256.842.10. SVP Julie L. Tyler also sold 260 shares in the firm on Wednesday, 22nd February. The stock was bought at an average of $103.24, resulting in a value of $26,842.40. After the completion of this transaction, the senior executive vice president owns 40 896 shares of company stock valued at $4 222 103.04. Insiders sold 60 197 shares of the company's stock in the last quarter for $6 659 607. Insiders hold 1.10% the company's shares.
Abbott Laboratories: Institutional Investors weigh in
Several large investors recently changed their positions on the stock. Moneta Group Investment Advisors LLC increased its stake in Abbott Laboratories in the fourth-quarter by 104649.4%. Moneta Group Investment Advisors LLC owns 30,247.436 shares worth $3,320.866,000 of the stock of the healthcare products maker after purchasing an additional 30,218,560 during the period. Norges Bank acquired a new stake in Abbott Laboratories shares during the fourth quarter, worth $1.893,715,000. Wellington Management Group LLP increased its stake in Abbott Laboratories during the first quarter by 40.5%. Wellington Management Group LLP owns 20,820 152 shares in the healthcare product manufacturer's stock, worth $2,108 249,000, after purchasing an additional 6,003,997 during the period. Morgan Stanley increased its stake in Abbott Laboratories during the fourth quarter by 14.3%. Morgan Stanley owns now 38,966,499 of the healthcare products maker's shares worth $4,278,132,000, after purchasing an additional 4,886,954 during the period. Arrowstreet Capital Limited Partnership increased its stake in Abbott Laboratories during the first quarter by 83.1%. Arrowstreet Capital Limited Partnership owns now 4,925,012 of the healthcare products maker's stock valued at $582,924,000, after purchasing an additional 2,235 314 shares over the period. Currently, hedge funds and institutional investors own 72.93%.
Abbott Laboratories Price Performance
The price of a share fell by $0.45 to $109.39 on Tuesday. The company exchanged 3,386,534 of its shares, as opposed to the average of 5,129,980. Abbott Laboratories's 1 year low is $93.25, and its 1 year high is $118.23. The company has a moving average of $104,46 for the past 50 days and $106,09 for the last 200 days. The debt-to equity ratio for the company is 0.39. It has a quick ratio (1.22) and a current rate (1.68). The company's market cap is $190.22 Billion, with a price to earnings ratio of 33.25 and a P/E/G of 4.99. It also has a beta value of 0.67.
The company released its last quarterly results on April 19th. Healthcare product maker reported $1.03 per share for the quarter. This was $0.98 higher than the consensus estimate. Abbott Laboratories' return on equity was 22.36%, and its net margin was 13.98%. The company had a revenue of $9.75billion during the quarter compared with analysts' expectations of $9.5billion. In the same quarter of the prior year, the company earned $1.73 per share. Revenue for the firm was down 18.1% year-over-year. Analysts at Equities Research predict that Abbott Laboratories' current fiscal year will see a 4.38 per-share profit.
Abbott Laboratories Dividend Announcement
A quarterly dividend was also paid by the firm on Monday, 15th May. Investors who held shares on Friday, 14th April were paid $0.51 per share. This dividend became payable on Thursday, April 13. This is a $2.04 dividend with a yield of 1.86 percent. Abbott Laboratories has a dividend payout ratio of 62.01%.
Abbott Laboratories is engaged in the development, manufacturing, and sales of a wide range of health care products. The company operates in four business segments: Established Pharmaceutical Products (Pharmaceuticals), Diagnostic Products (Diagnostics), Nutritional Products (Nutritional Products), and Medical Devices. The Established Pharmaceutical Products segment is the international sales of generic pharmaceuticals branded with a brand name.
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