Abbott Laboratories (NYSE:ABT – Get Free Report) released its quarterly earnings data on Wednesday. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02, RTT News reports. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year.
Abbott Laboratories Price Performance
Shares of ABT opened at $105.27 on Friday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The business’s fifty day moving average is $114.28 and its 200 day moving average is $107.57. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The stock has a market cap of $182.66 billion, a P/E ratio of 32.29, a P/E/G ratio of 2.63 and a beta of 0.74.
Abbott Laboratories Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 67.48%.
Insider Buying and Selling
Institutional Trading of Abbott Laboratories
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Abbott Laboratories by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 156,444,700 shares of the healthcare product maker’s stock worth $17,219,868,000 after acquiring an additional 679,359 shares during the period. Morgan Stanley raised its position in Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock worth $4,278,132,000 after acquiring an additional 4,886,954 shares during the period. Moneta Group Investment Advisors LLC raised its position in Abbott Laboratories by 104,649.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after acquiring an additional 30,218,560 shares during the period. Norges Bank bought a new stake in Abbott Laboratories in the fourth quarter worth about $1,893,715,000. Finally, Legal & General Group Plc raised its position in Abbott Laboratories by 15.1% in the fourth quarter. Legal & General Group Plc now owns 14,299,250 shares of the healthcare product maker’s stock worth $1,573,920,000 after acquiring an additional 1,873,411 shares during the period. Institutional investors own 75.18% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Raymond James upped their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Citigroup increased their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Barclays increased their price target on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.31.
Check Out Our Latest Analysis on ABT
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.
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