Abbott Laboratories (NYSE:ABT – Get Rating) – William Blair cut their Q1 2023 EPS estimates for shares of Abbott Laboratories in a report released on Thursday, January 26th. William Blair analyst M. Kaczor now anticipates that the healthcare product maker will post earnings per share of $0.97 for the quarter, down from their previous forecast of $0.99. The consensus estimate for Abbott Laboratories' current full-year earnings is $4.37 per share. William Blair also issued estimates for Abbott Laboratories' Q2 2023 earnings at $1.03 EPS.
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Abbott Laboratories (NYSE:ABT – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The healthcare product maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. The firm had revenue of $10.09 billion during the quarter, compared to analysts' expectations of $9.69 billion. Abbott Laboratories had a net margin of 15.88% and a return on equity of 26.24%. The company's quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 EPS.
Other equities research analysts have also recently issued research reports about the stock. Barclays lifted their price target on shares of Abbott Laboratories from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday. StockNews.com cut shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Thursday, October 20th. Jefferies Financial Group started coverage on shares of Abbott Laboratories in a research report on Wednesday, October 12th. They set a "hold" rating and a $110.00 price target for the company. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $125.00 to $132.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, BTIG Research reduced their price objective on shares of Abbott Laboratories from $126.00 to $123.00 and set a "buy" rating on the stock in a research note on Monday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $125.63.
Abbott Laboratories Trading Down 1.0 %
ABT opened at $109.95 on Friday. Abbott Laboratories has a 1-year low of $93.25 and a 1-year high of $130.93. The firm has a 50-day moving average price of $109.07 and a two-hundred day moving average price of $105.86. The company has a current ratio of 1.86, a quick ratio of 1.43 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $191.71 billion, a PE ratio of 28.20, a PEG ratio of 5.06 and a beta of 0.69.
Abbott Laboratories Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.86%. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, January 12th. Abbott Laboratories's payout ratio is presently 52.17%.
Insider Buying and Selling
In related news, EVP John F. Ginascol sold 11,000 shares of the business's stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $112.32, for a total transaction of $1,235,520.00. Following the transaction, the executive vice president now directly owns 111,912 shares in the company, valued at $12,569,955.84. The sale was disclosed in a filing with the SEC, which is available through this link. 0.52% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Abbott Laboratories
Several institutional investors and hedge funds have recently modified their holdings of ABT. Insight Inv LLC acquired a new position in shares of Abbott Laboratories in the second quarter valued at $26,000. JDM Financial Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. EdgeRock Capital LLC acquired a new position in shares of Abbott Laboratories in the third quarter valued at about $29,000. Johnson Midwest Financial LLC grew its stake in shares of Abbott Laboratories by 28.7% in the third quarter. Johnson Midwest Financial LLC now owns 560 shares of the healthcare product maker's stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. Finally, Arcus Capital Partners LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at about $35,000. 72.93% of the stock is currently owned by institutional investors and hedge funds.
About Abbott Laboratories
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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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