Abbott Laboratories (NYSE:ABT) issued its earnings results on Wednesday. The healthcare product maker reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02, RTT News reports. The business had revenue of $7.54 billion for the quarter, compared to analysts’ expectations of $7.49 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS.
ABT opened at $76.38 on Wednesday. Abbott Laboratories has a one year low of $56.81 and a one year high of $80.74. The company has a market capitalization of $136.13 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.20 and a current ratio of 1.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
In related news, SVP Jared Watkin sold 1,391 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $108,498.00. Following the transaction, the senior vice president now directly owns 75,926 shares in the company, valued at $5,922,228. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph J. Manning sold 5,613 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of the transaction, the insider now owns 56,029 shares in the company, valued at $4,458,787.82. The disclosure for this sale can be found here. Insiders sold 280,021 shares of company stock worth $20,485,856 over the last quarter. 0.70% of the stock is currently owned by insiders.
ABT has been the topic of several recent research reports. Bank of America restated a “buy” rating and set a $81.00 target price (up from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Monday, January 28th. Gabelli restated a “buy” rating on shares of Abbott Laboratories in a report on Wednesday, January 2nd. Royal Bank of Canada boosted their target price on Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a report on Monday. They noted that the move was a valuation call. Finally, Wells Fargo & Co restated a “buy” rating on shares of Abbott Laboratories in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.48.
About Abbott Laboratories
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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