Abbott Laboratories (NYSE:ABT) posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01, MarketWatch Earnings reports. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Abbott Laboratories updated its Q4 guidance to $0.72-0.74 EPS.
Shares of Abbott Laboratories (NYSE ABT) opened at 55.52 on Friday. The stock has a 50 day moving average price of $53.58 and a 200 day moving average price of $48.80. The firm has a market cap of $96.46 billion, a price-to-earnings ratio of 77.76 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.69.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
In other news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the transaction, the insider now owns 113,426 shares of the company’s stock, valued at approximately $6,005,906.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold 410,313 shares of company stock worth $21,303,676 in the last ninety days. Insiders own 0.76% of the company’s stock.
Large investors have recently bought and sold shares of the business. Albion Financial Group UT purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $211,000. Ackerman Capital Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $231,000. TLP Group LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $254,000. Coldstream Capital Management Inc. increased its stake in shares of Abbott Laboratories by 9.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,484 shares of the healthcare product maker’s stock worth $267,000 after purchasing an additional 485 shares during the last quarter. Finally, Segment Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $268,000. Hedge funds and other institutional investors own 71.42% of the company’s stock.
ABT has been the topic of several research analyst reports. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. BidaskClub lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Guggenheim began coverage on Abbott Laboratories in a research note on Thursday, June 29th. They issued a “buy” rating and a $58.00 price objective on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.81.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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