Abbott Laboratories (ABT) Issues Q2 Earnings Guidance
Abbott Laboratories (NYSE:ABT) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.79-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.81. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.
Several research firms recently commented on ABT. Zacks Investment Research upgraded shares of Abbott Laboratories from a hold rating to a buy rating and set a $88.00 price objective for the company in a research note on Tuesday, March 19th. Wells Fargo & Co reiterated a buy rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Royal Bank of Canada boosted their price objective on shares of Abbott Laboratories to $82.00 and gave the stock a buy rating in a research note on Monday. They noted that the move was a valuation call. Barclays set a $84.00 price objective on shares of Abbott Laboratories and gave the stock a buy rating in a research note on Friday, March 8th. Finally, Bank of America reiterated a buy rating and set a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $80.48.
NYSE:ABT opened at $76.38 on Wednesday. The company has a market cap of $136.13 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 2.08 and a beta of 1.13. Abbott Laboratories has a twelve month low of $56.81 and a twelve month high of $80.74. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
In related news, insider Jaime Contreras sold 177,457 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the transaction, the insider now directly owns 100,985 shares in the company, valued at approximately $7,068,950. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John G. Stratton bought 3,455 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was purchased at an average price of $72.32 per share, with a total value of $249,865.60. Following the completion of the purchase, the director now owns 3,558 shares in the company, valued at $257,314.56. The disclosure for this purchase can be found here. Insiders sold a total of 280,021 shares of company stock worth $20,485,856 over the last ninety days. Insiders own 0.70% of the company’s stock.
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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.
Further Reading: Fiduciary
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