Jefferies Financial Group Weighs in on Abbott Laboratories’ Q1 2019 Earnings (ABT)
Abbott Laboratories (NYSE:ABT) – Equities research analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for Abbott Laboratories in a note issued to investors on Wednesday, October 17th. Jefferies Financial Group analyst R. Denhoy anticipates that the healthcare product maker will post earnings per share of $0.68 for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $80.00 price target on the stock. Jefferies Financial Group also issued estimates for Abbott Laboratories’ Q2 2019 earnings at $0.80 EPS, Q3 2019 earnings at $0.82 EPS and Q4 2019 earnings at $0.88 EPS.
ABT has been the subject of several other reports. Raymond James boosted their price objective on Abbott Laboratories from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 11th. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Wells Fargo & Co boosted their price objective on Abbott Laboratories from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Finally, BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a report on Thursday. One research 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. The company has an average rating of “Buy” and a consensus price target of $75.22.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS.
Several hedge funds have recently made changes to their positions in ABT. Morgan Stanley increased its stake in shares of Abbott Laboratories by 33.1% in the 2nd quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after acquiring an additional 5,274,307 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $275,697,000. American Century Companies Inc. increased its stake in Abbott Laboratories by 417.9% during the 2nd quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock worth $340,697,000 after purchasing an additional 4,507,553 shares in the last quarter. BlackRock Inc. increased its stake in Abbott Laboratories by 3.7% during the 2nd quarter. BlackRock Inc. now owns 116,149,740 shares of the healthcare product maker’s stock worth $7,083,972,000 after purchasing an additional 4,153,157 shares in the last quarter. Finally, Swedbank bought a new stake in Abbott Laboratories during the 2nd quarter worth approximately $101,535,000. 72.23% of the stock is owned by institutional investors.
In other news, insider Andrew H. Lane sold 9,097 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the sale, the insider now directly owns 35,576 shares of the company’s stock, valued at approximately $2,387,505.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction dated 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. Over the last ninety days, insiders sold 155,321 shares of company stock valued at $10,492,583. 0.74% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a $0.28 dividend. The ex-dividend date is Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.66%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.
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 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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