Equities analysts expect Abbott Laboratories (NYSE:ABT) to report sales of $8.26 billion for the current quarter, Zacks reports. Six analysts have made estimates for Abbott Laboratories’ earnings, with the highest sales estimate coming in at $8.29 billion and the lowest estimate coming in at $8.24 billion. Abbott Laboratories posted sales of $7.77 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The company is expected to issue its next earnings report before the market opens on Wednesday, January 22nd.
On average, analysts expect that Abbott Laboratories will report full-year sales of $31.85 billion for the current year, with estimates ranging from $31.83 billion to $31.88 billion. For the next financial year, analysts anticipate that the business will post sales of $33.97 billion, with estimates ranging from $33.72 billion to $34.25 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share.
A number of brokerages have commented on ABT. ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James reduced their price target on Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Credit Suisse Group upped their price target on Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley upped their price target on Abbott Laboratories from $93.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup cut Abbott Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $91.42.
ABT traded up $0.22 during midday trading on Friday, reaching $86.43. The company had a trading volume of 4,271,546 shares, compared to its average volume of 3,804,558. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $85.86 and a two-hundred day moving average of $84.51. The company has a market cap of $151.84 billion, a P/E ratio of 30.01, a P/E/G ratio of 2.17 and a beta of 1.12. Abbott Laboratories has a 1 year low of $68.13 and a 1 year high of $89.24.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.67%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
In related news, SVP Randel William Woodgrift sold 21,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total transaction of $1,691,340.00. Following the completion of the sale, the senior vice president now owns 68,562 shares in the company, valued at $5,521,983.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABT. Nuveen Asset Management LLC grew its holdings in Abbott Laboratories by 7,888.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock valued at $1,040,985,000 after buying an additional 12,222,999 shares in the last quarter. Vanguard Group Inc. grew its holdings in Abbott Laboratories by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock valued at $12,474,801,000 after buying an additional 2,262,152 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Abbott Laboratories by 1.8% in the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock valued at $10,640,833,000 after purchasing an additional 2,199,601 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $158,475,000. Finally, California Public Employees Retirement System lifted its stake in shares of Abbott Laboratories by 26.0% in the 3rd quarter. California Public Employees Retirement System now owns 3,977,787 shares of the healthcare product maker’s stock valued at $332,821,000 after purchasing an additional 821,189 shares during the last quarter. Institutional investors and hedge funds own 73.59% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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