Abbott Laboratories (NYSE:ABT) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Abbott Laboratories (NYSE:ABTGet Rating) issued its quarterly earnings data on Wednesday. The healthcare product maker reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.26, RTT News reports. The business had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11 billion. Abbott Laboratories had a net margin of 16.42% and a return on equity of 27.06%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. Abbott Laboratories updated its FY 2022 guidance to $4.700-$ EPS.

NYSE:ABT opened at $119.98 on Wednesday. The stock has a 50-day simple moving average of $119.75 and a two-hundred day simple moving average of $125.49. The firm has a market capitalization of $211.58 billion, a PE ratio of 30.45, a P/E/G ratio of 3.17 and a beta of 0.74. Abbott Laboratories has a 52-week low of $105.36 and a 52-week high of $142.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.85.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, April 15th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.57%. Abbott Laboratories’s dividend payout ratio (DPR) is 47.72%.

ABT has been the subject of a number of research reports. Credit Suisse Group increased their price objective on Abbott Laboratories from $138.00 to $139.00 and gave the stock an “outperform” rating in a report on Thursday, January 27th. StockNews.com initiated coverage on Abbott Laboratories in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Cowen upped their price target on shares of Abbott Laboratories from $140.00 to $150.00 in a research note on Monday, January 10th. BTIG Research cut their price target on shares of Abbott Laboratories from $143.00 to $138.00 in a report on Wednesday, January 26th. Finally, Bank of America assumed coverage on Abbott Laboratories in a research report on Tuesday, March 1st. They issued a “buy” rating and a $140.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $139.52.

In other Abbott Laboratories news, SVP Michael D. Dale sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $117.00, for a total value of $468,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mary K. Moreland sold 400 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $119.31, for a total transaction of $47,724.00. The disclosure for this sale can be found here. Insiders sold a total of 7,896 shares of company stock valued at $926,454 over the last three months. 0.52% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. KB Financial Partners LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $27,000. Paradigm Financial Partners LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $221,000. Camden National Bank increased its position in Abbott Laboratories by 1.5% during the fourth quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock valued at $844,000 after acquiring an additional 114 shares during the last quarter. Heritage Wealth Advisors raised its position in Abbott Laboratories by 8.2% in the 4th quarter. Heritage Wealth Advisors now owns 7,893 shares of the healthcare product maker’s stock worth $1,111,000 after purchasing an additional 598 shares during the period. Finally, Center for Financial Planning Inc. raised its holdings in shares of Abbott Laboratories by 3.1% in the third quarter. Center for Financial Planning Inc. now owns 15,430 shares of the healthcare product maker’s stock worth $1,823,000 after buying an additional 471 shares during the period. Institutional investors and hedge funds own 73.01% of the company’s stock.

About Abbott Laboratories (Get Rating)

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 Established Pharmaceutical Products segment 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.

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Earnings History for Abbott Laboratories (NYSE:ABT)

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