Abbott Laboratories (ABT) to Release Earnings on Wednesday

Abbott Laboratories (NYSE:ABT) is scheduled to post its quarterly earnings results before the market opens on Wednesday, April 17th. Analysts expect Abbott Laboratories to post earnings of $0.95 per share for the quarter. Abbott Laboratories has set its FY24 guidance at $4.50-4.70 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts expect Abbott Laboratories to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Abbott Laboratories Trading Down 0.2 %

Shares of Abbott Laboratories stock opened at $108.89 on Tuesday. The stock has a market cap of $188.94 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. The company has a 50-day moving average of $114.67 and a two-hundred day moving average of $107.51. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.02%. Abbott Laboratories’s payout ratio is 67.48%.

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Citigroup boosted their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays boosted their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 target price on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.14.

Insiders Place Their Bets

In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Abbott Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABT. Moneta Group Investment Advisors LLC boosted its position in Abbott Laboratories by 104,649.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock valued at $3,320,866,000 after buying an additional 30,218,560 shares in the last quarter. Norges Bank bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $1,893,715,000. Morgan Stanley raised its stake in shares of Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock worth $4,278,132,000 after acquiring an additional 4,886,954 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Abbott Laboratories by 83.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare product maker’s stock worth $582,924,000 after acquiring an additional 2,235,314 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Abbott Laboratories by 15.1% during the fourth quarter. Legal & General Group Plc now owns 14,299,250 shares of the healthcare product maker’s stock worth $1,573,920,000 after buying an additional 1,873,411 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.