Executive Vice President Hubert Allen Sells Shares of Abbott Laboratories (ABT)
On March 1, 2024, Hubert Allen, Executive Vice President of Abbott Laboratories (NYSE:ABT), sold 853 shares of the company, according to a recent SEC Filing. The transaction was executed with the shares priced at $118.5 each.
Abbott Laboratories is a globally diversified healthcare company that specializes in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. The company operates in segments that include Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices, catering to a wide range of healthcare needs.
Over the past year, the insider has engaged in the sale of 853 shares in total and has not made any purchases of the company's stock. The insider transaction history for Abbott Laboratories reveals a pattern of 15 insider sells and no insider buys over the same timeframe.
On the day of the insider's recent sale, shares of Abbott Laboratories were trading at $118.5, giving the company a market capitalization of $208.29 billion. The price-earnings ratio stood at 36.82, which is above both the industry median of 27.64 and the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is 1.11, with a GF Value of $106.71, indicating that Abbott Laboratories is considered Modestly Overvalued according to GuruFocus's valuation model. The GF Value is derived from historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. While a single insider selling shares may not necessarily indicate a trend, the collective pattern of insider transactions can be an important factor in assessing the stock's potential future performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
