Abbott Laboratories (NYSE:ABT) issued its quarterly earnings results on Wednesday. The healthcare product maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.29 billion.
Abbott Laboratories (NYSE:ABT) opened at 41.17 on Wednesday. The stock’s 50 day moving average price is $41.83 and its 200 day moving average price is $41.37. The company has a market capitalization of $60.52 billion, a P/E ratio of 27.17 and a beta of 0.87. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.53%. Abbott Laboratories’s payout ratio is presently 68.87%.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the transaction, the senior vice president now owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Miles D. White acquired 242,547 shares of the business’s stock in a transaction on Monday, July 25th. The stock was acquired at an average cost of $43.18 per share, for a total transaction of $10,473,179.46. Following the transaction, the chairman now directly owns 2,010,517 shares in the company, valued at $86,814,124.06. The disclosure for this purchase can be found here. 0.26% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. increased its position in shares of Abbott Laboratories by 0.9% in the second quarter. Alliancebernstein L.P. now owns 9,258,293 shares of the healthcare product maker’s stock valued at $363,943,000 after buying an additional 85,124 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $7,466,000. GAM Holding AG boosted its stake in shares of Abbott Laboratories by 7.5% in the second quarter. GAM Holding AG now owns 392,098 shares of the healthcare product maker’s stock valued at $15,413,000 after buying an additional 27,303 shares in the last quarter. Crawford Investment Counsel Inc. boosted its stake in shares of Abbott Laboratories by 2.1% in the second quarter. Crawford Investment Counsel Inc. now owns 31,056 shares of the healthcare product maker’s stock valued at $1,221,000 after buying an additional 653 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in shares of Abbott Laboratories by 4.2% in the second quarter. Commonwealth Bank of Australia now owns 164,444 shares of the healthcare product maker’s stock valued at $6,465,000 after buying an additional 6,622 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.
ABT has been the topic of several research analyst reports. Barclays PLC reaffirmed an “overweight” rating and set a $48.00 price target on shares of Abbott Laboratories in a research report on Tuesday, July 12th. TheStreet raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Bank of America Corp. reaffirmed a “buy” rating and set a $50.00 price target on shares of Abbott Laboratories in a research report on Friday, August 12th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Abbott Laboratories in a research report on Monday, September 19th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $47.02.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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