Trade Report: The Abbott Laboratories (ABT) Set to Announce Earnings on Wednesday

The Abbott Laboratories (ABT) Set to Announce Earnings on Wednesday

Abbott Laboratories (NYSE:ABT) will release its Q316 earnings data on Wednesday, October 19th. Abbott Laboratories has set its FY16 guidance at $2.14-2.24 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, analysts expect Abbott Laboratories to post $2.20 EPS for the current fiscal year and $0.09 EPS for the next fiscal year.

Abbott Laboratories (NYSE:ABT) opened at 40.59 on Tuesday. The stock has a 50 day moving average of $41.89 and a 200 day moving average of $41.37. Abbott Laboratories has a 52-week low of $36.00 and a 52-week high of $46.38. The stock has a market capitalization of $59.67 billion, a P/E ratio of 26.79 and a beta of 0.87.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s payout ratio is 68.87%.

Several equities research analysts have recently weighed in on ABT shares. Edward Jones raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Tuesday, July 5th. Barclays PLC reissued an “overweight” rating and set a $48.00 price objective on shares of Abbott Laboratories in a report on Tuesday, July 12th. Jefferies Group increased their price objective on shares of Abbott Laboratories from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. Finally, Argus reissued a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a report on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $47.02.

In other Abbott Laboratories news, Chairman Miles D. White purchased 242,547 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was bought at an average cost of $43.18 per share, with a total value of $10,473,179.46. Following the purchase, the chairman now directly owns 2,010,517 shares of the company’s stock, valued at $86,814,124.06. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $41.71, for a total transaction of $33,993.65. Following the transaction, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Several institutional investors have recently modified their holdings of ABT. Jarislowsky Fraser Ltd boosted its position in shares of Abbott Laboratories by 780.3% in the second quarter. Jarislowsky Fraser Ltd now owns 18,800,322 shares of the healthcare product maker’s stock valued at $1,060,533,000 after buying an additional 16,664,605 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Abbott Laboratories by 16.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,209,595 shares of the healthcare product maker’s stock valued at $1,423,400,000 after buying an additional 5,115,232 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Abbott Laboratories during the second quarter valued at $162,264,000. TIAA CREF Investment Management LLC boosted its position in shares of Abbott Laboratories by 23.1% in the second quarter. TIAA CREF Investment Management LLC now owns 10,171,634 shares of the healthcare product maker’s stock valued at $399,847,000 after buying an additional 1,906,748 shares in the last quarter. Finally, AXA boosted its position in shares of Abbott Laboratories by 518.1% in the second quarter. AXA now owns 1,678,100 shares of the healthcare product maker’s stock valued at $65,966,000 after buying an additional 1,406,600 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

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