Abbott Laboratories (ABT) Updates Q4 2018 Earnings Guidance
Abbott Laboratories (NYSE:ABT) updated its fourth quarter 2018 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.80-0.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.82. Abbott Laboratories also updated its FY 2018 guidance to $2.87-2.89 EPS.
A number of brokerages recently commented on ABT. Jefferies Financial Group reiterated a buy rating and set a $80.00 price objective on shares of Abbott Laboratories in a research report on Thursday. Raymond James lifted their price objective on Abbott Laboratories from $77.00 to $79.00 and gave the stock an outperform rating in a research report on Thursday. BTIG Research reiterated a hold rating on shares of Abbott Laboratories in a research report on Thursday. Royal Bank of Canada reiterated a buy rating and set a $70.00 price objective on shares of Abbott Laboratories in a research report on Thursday, July 19th. Finally, Morgan Stanley lifted their price objective on Abbott Laboratories from $70.00 to $80.00 and gave the stock an overweight rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. Abbott Laboratories presently has an average rating of Buy and an average target price of $75.22.
NYSE:ABT opened at $70.23 on Thursday. Abbott Laboratories has a 52 week low of $53.61 and a 52 week high of $74.15. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $128.70 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a $0.28 dividend. The ex-dividend date is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.59%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.
In other news, insider Daniel Gesua Sive Salvadori sold 5,000 shares of Abbott Laboratories stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.39, for a total value of $366,950.00. Following the completion of the sale, the insider now directly owns 93,321 shares of the company’s stock, valued at $6,848,828.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sharon J. Bracken sold 1,732 shares of Abbott Laboratories stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total value of $127,042.20. Following the completion of the sale, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The disclosure for this sale can be found here. Insiders sold 155,321 shares of company stock worth $10,492,583 in the last 90 days. Company insiders own 0.74% of the company’s stock.
Abbott Laboratories Company Profile
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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