Abbott Laboratories (ABT) to Release Quarterly Earnings on Wednesday

Abbott Laboratories (NYSE:ABT) will be issuing its quarterly earnings data 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.Parties that are interested in registering for the company’s conference call can do so using this link.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the previous year, the business earned $1.03 EPS. Abbott Laboratories’s revenue for the quarter 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 Price Performance

Shares of Abbott Laboratories stock opened at $109.11 on Monday. 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 has a twelve month low of $89.67 and a twelve month high of $121.64. The business has a 50-day moving average price of $114.72 and a 200 day moving average price of $107.44. The firm has a market cap of $189.33 billion, a PE ratio of 33.47, a P/E/G ratio of 2.63 and a beta of 0.74.

Abbott Laboratories Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,435 shares of company stock valued at $6,451,298. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ABT. FIL Ltd boosted its position in Abbott Laboratories by 595.8% during the fourth quarter. FIL Ltd now owns 185,778 shares of the healthcare product maker’s stock worth $20,449,000 after acquiring an additional 159,078 shares during the last quarter. Burford Brothers Inc. acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $345,000. Hobbs Group Advisors LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $99,000. SageView Advisory Group LLC boosted its position in Abbott Laboratories by 14.2% during the fourth quarter. SageView Advisory Group LLC now owns 13,005 shares of the healthcare product maker’s stock worth $1,476,000 after acquiring an additional 1,619 shares during the last quarter. Finally, Oarsman Capital Inc. boosted its holdings in shares of Abbott Laboratories by 4.4% in the 4th quarter. Oarsman Capital Inc. now owns 8,627 shares of the healthcare product maker’s stock valued at $950,000 after purchasing an additional 365 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

About Abbott Laboratories

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.