Abbott Laboratories (NYSE:ABT) issued its earnings results on Wednesday. The healthcare product maker reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01, RTT News reports. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. Abbott Laboratories updated its Q4 guidance to $0.72-0.74 EPS.

Abbott Laboratories (ABT) opened at 55.06 on Wednesday. The stock has a market cap of $95.66 billion, a price-to-earnings ratio of 77.11 and a beta of 1.06. The firm’s 50-day moving average is $52.59 and its 200 day moving average is $48.17. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $55.43.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.

In other news, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the transaction, the insider now owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian J. Blaser sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.00, for a total transaction of $750,000.00. Following the transaction, the insider now directly owns 143,154 shares of the company’s stock, valued at approximately $7,157,700. The disclosure for this sale can be found here. Insiders sold a total of 333,310 shares of company stock valued at $16,857,255 in the last three months. 0.76% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Abbott Laboratories by 3.1% during the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after acquiring an additional 809,732 shares during the last quarter. South Texas Money Management Ltd. increased its stake in shares of Abbott Laboratories by 5.7% during the 2nd quarter. South Texas Money Management Ltd. now owns 8,195 shares of the healthcare product maker’s stock valued at $398,000 after acquiring an additional 444 shares during the last quarter. Abbot Financial Management Inc. acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $627,000. UBS Asset Management Americas Inc. increased its stake in shares of Abbott Laboratories by 3.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 7,692,236 shares of the healthcare product maker’s stock valued at $373,920,000 after acquiring an additional 286,000 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in shares of Abbott Laboratories by 1.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 211,599 shares of the healthcare product maker’s stock valued at $10,286,000 after acquiring an additional 3,474 shares during the last quarter. 71.45% of the stock is owned by institutional investors.

ABT has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research report on Friday, September 1st. Cowen and Company reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Finally, TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $54.94.

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About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Earnings History for Abbott Laboratories (NYSE:ABT)

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