Abbott Laboratories (NYSE:ABT) – Equities researchers at Jefferies Financial Group increased their Q4 2021 earnings per share (EPS) estimates for Abbott Laboratories in a research report issued on Tuesday, October 12th. Jefferies Financial Group analyst A. Petrone now expects that the healthcare product maker will post earnings per share of $0.98 for the quarter, up from their prior forecast of $0.97. Jefferies Financial Group also issued estimates for Abbott Laboratories’ FY2022 earnings at $4.57 EPS and FY2023 earnings at $5.26 EPS.
Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, July 12th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, July 23rd. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, October 1st. Credit Suisse Group boosted their target price on shares of Abbott Laboratories from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Finally, SVB Leerink boosted their target price on shares of Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a report on Tuesday, July 20th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $130.38.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.15. The firm had revenue of $10.22 billion for the quarter, compared to the consensus estimate of $9.67 billion. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $1.80 annualized dividend and a yield of 1.54%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 49.32%.
In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $129.05, for a total transaction of $2,969,182.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 14,500 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,812,500.00. Following the transaction, the executive vice president now directly owns 54,282 shares in the company, valued at $6,785,250. The disclosure for this sale can be found here. Insiders have sold a total of 222,883 shares of company stock valued at $27,964,400 over the last 90 days. 1.50% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. 4Thought Financial Group Inc. acquired a new stake in Abbott Laboratories in the second quarter worth about $25,000. Holloway Wealth Management LLC raised its position in Abbott Laboratories by 150.0% in the second quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Sierra Capital LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth about $30,000. CKW Financial Group acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $36,000. Finally, Isthmus Partners LLC acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $36,000. 72.05% of the stock is owned by institutional investors.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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