Abbott Laboratories (NYSE:ABT) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Abbott Laboratories (NYSE:ABT) released its earnings results on Wednesday. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02, Zacks reports. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%.

Abbott Laboratories Trading Down 1.5 %

Shares of Abbott Laboratories stock opened at $126.08 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $130.62 and a 200 day simple moving average of $121.54. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a market capitalization of $218.67 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABT. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Evercore ISI raised their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Barclays reiterated an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Citigroup upped their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.94.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Abbott Laboratories

A hedge fund recently raised its stake in Abbott Laboratories stock. Brighton Jones LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 10.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,719 shares of the healthcare product maker’s stock after acquiring an additional 4,755 shares during the quarter. Brighton Jones LLC’s holdings in Abbott Laboratories were worth $5,850,000 at the end of the most recent quarter. 75.18% of the stock is owned by institutional investors.

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.