Abbott Laboratories (ABT) to Release Earnings on Wednesday

Abbott Laboratories (NYSE:ABT) will be announcing its earnings results before the market opens on Wednesday, April 17th. Analysts expect the company to announce earnings of $0.95 per share for the quarter. Abbott Laboratories has set its FY24 guidance at $4.50-4.70 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. Abbott Laboratories’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. 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 %

Abbott Laboratories stock opened at $108.89 on Tuesday. The business has a 50-day simple moving average of $114.67 and a two-hundred day simple moving average of $107.51. The company has a market cap of $188.94 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.63 and a beta of 0.74. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35.

Abbott Laboratories Announces Dividend

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

Analyst Ratings Changes

ABT has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $128.00 price target on shares of Abbott Laboratories in a report on Wednesday, February 14th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Citigroup upped their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Raymond James upped their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $122.14.

Insider Buying and Selling

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now directly 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 worth $6,451,298 in the last three months. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Abbott Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Patriot Investment Management Group Inc. increased its position in Abbott Laboratories by 3.1% in the 4th quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock worth $356,000 after buying an additional 96 shares during the period. Shepherd Financial Partners LLC increased its position in Abbott Laboratories by 4.5% in the 4th quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock worth $250,000 after buying an additional 99 shares during the period. Stonebridge Capital Advisors LLC increased its position in shares of Abbott Laboratories by 0.5% during the first quarter. Stonebridge Capital Advisors LLC now owns 20,029 shares of the healthcare product maker’s stock valued at $2,371,000 after purchasing an additional 100 shares during the period. Landaas & Co. WI ADV increased its position in shares of Abbott Laboratories by 1.8% during the fourth quarter. Landaas & Co. WI ADV now owns 5,534 shares of the healthcare product maker’s stock valued at $608,000 after purchasing an additional 100 shares during the period. Finally, Staley Capital Advisers Inc. increased its position in shares of Abbott Laboratories by 0.4% during the fourth quarter. Staley Capital Advisers Inc. now owns 26,391 shares of the healthcare product maker’s stock valued at $2,897,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

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.