Wall Street brokerages expect Abbott Laboratories (NYSE:ABT) to post sales of $7.37 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Abbott Laboratories’ earnings. The lowest sales estimate is $7.29 billion and the highest is $7.46 billion. Abbott Laboratories reported sales of $5.33 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 38.3%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, January 24th.
According to Zacks, analysts expect that Abbott Laboratories will report full-year sales of $7.37 billion for the current year, with estimates ranging from $27.00 billion to $27.31 billion. For the next year, analysts anticipate that the company will post sales of $30.18 billion per share, with estimates ranging from $29.86 billion to $30.51 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Abbott Laboratories.
ABT has been the topic of several analyst reports. ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Barclays restated a “buy” rating and set a $66.00 price target on shares of Abbott Laboratories in a report on Monday, January 8th. BTIG Research cut shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday. They noted that the move was a valuation call. Stifel Nicolaus boosted their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $60.24.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.28 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.88%. Abbott Laboratories’s payout ratio is currently 92.56%.
In other news, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,569 shares of company stock worth $22,103,095. Insiders own 0.76% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ABT. Confluence Investment Management LLC bought a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $225,000. M. Kraus & Co grew its stake in Abbott Laboratories by 22.5% during the second quarter. M. Kraus & Co now owns 77,736 shares of the healthcare product maker’s stock valued at $3,779,000 after acquiring an additional 14,280 shares in the last quarter. CenturyLink Investment Management Co grew its stake in Abbott Laboratories by 4.4% during the second quarter. CenturyLink Investment Management Co now owns 16,212 shares of the healthcare product maker’s stock valued at $788,000 after acquiring an additional 688 shares in the last quarter. First Financial Bank Trust Division grew its stake in Abbott Laboratories by 0.3% during the second quarter. First Financial Bank Trust Division now owns 168,205 shares of the healthcare product maker’s stock valued at $8,176,000 after acquiring an additional 510 shares in the last quarter. Finally, Banced Corp grew its stake in Abbott Laboratories by 3.0% during the second quarter. Banced Corp now owns 11,522 shares of the healthcare product maker’s stock valued at $560,000 after acquiring an additional 341 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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