Abbott Laboratories (NYSE:ABT) Issues Quarterly Earnings Results

Abbott Laboratories (NYSE:ABTGet Free Report) announced its quarterly earnings data on Thursday. The healthcare product maker reported $1.50 EPS for the quarter, meeting analysts’ consensus estimates of $1.50, FiscalAI reports. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $120.82 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $125.65 and its 200 day simple moving average is $128.68. Abbott Laboratories has a 12 month low of $113.50 and a 12 month high of $141.23. The firm has a market capitalization of $210.10 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 2.01 and a beta of 0.72.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.1%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio is 31.58%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABT. Benchmark started coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target for the company. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Daiwa Capital Markets lifted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Jefferies Financial Group increased their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Mizuho lifted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $147.42.

Check Out Our Latest Research Report on ABT

Abbott Laboratories News Roundup

Here are the key news stories impacting Abbott Laboratories this week:

Institutional Investors Weigh In On Abbott Laboratories

Several large investors have recently added to or reduced their stakes in ABT. Centaurus Financial Inc. boosted its position in Abbott Laboratories by 2.8% during the third quarter. Centaurus Financial Inc. now owns 3,964 shares of the healthcare product maker’s stock worth $531,000 after purchasing an additional 109 shares during the period. OmniStar Financial Group Inc. purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $1,173,000. Keystone Financial Group boosted its holdings in Abbott Laboratories by 11.3% in the 3rd quarter. Keystone Financial Group now owns 41,285 shares of the healthcare product maker’s stock worth $5,401,000 after buying an additional 4,204 shares during the period. FSA Wealth Management LLC grew its stake in Abbott Laboratories by 12.9% in the 3rd quarter. FSA Wealth Management LLC now owns 885 shares of the healthcare product maker’s stock valued at $119,000 after buying an additional 101 shares in the last quarter. Finally, Morningstar Investment Management LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at $5,842,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

About Abbott Laboratories

(Get Free Report)

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

See Also

Earnings History for Abbott Laboratories (NYSE:ABT)

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