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Abbott Stock Fly to New All-Time High On Robust Earnings Growth

Abbott Stock

Abbott (NYSE: ABT) stock price surged to a new all-time high following strong than expected revenue and earnings growth in the final quarter of 2019. The sustainable growth in financial numbers is an indication of steady growth in cash returns for investors. The company has been generating high single-digit organic sales growth over the past few quarters. Abbott expects the organic sales growth trend to continue in the coming quarters.

Abbott stock has also been receiving support from sustainable organic growth. Organic growth actually means that the company doesn’t need to invest in acquisitions and other growth opportunities to sustain revenue growth trends. Consequently, this eventually helps in generating hefty free cash flows and cash returns for investors. ABT share price grew 25% in the last twelve months.

ABT Abbott Laboratories daily Stock Chart

Robust Financial Growth Is Supporting Abbott Stock Price

Abbott generated organic sales growth of 8.5% year over year in the final quarter of 2019. The company has experienced growth from all business segments. It’s Medical Devices business grew 9% while Established Pharmaceuticals and Core Laboratory Diagnostics sales rose at a high single-digit rate.

Our focus on organic growth is driving top-tier performance,” said Miles D. White, chairman, and chief executive officer, Abbott. “We’re entering 2020 with very good momentum and targeting continued strong growth.”

Abbott Stock

The company expects to generate organic sales growth in the range of 8% in fiscal 2020. Moreover, earnings per share are likely to increase by about 20% from the past year.

Cash Returns are Likely to Increase

Abbot offers a quarterly dividend of $0.36 per share, yielding around 1.7%. The company has increased dividends in the past 48 consecutive years. Its dividend growth is safe considering the cash generation potential and high double-digit growth in earnings per share. Overall, Abbott stock looks like a good play for defensive investors who are chasing steady share price appreciation along with a double-digit dividend increase.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.