Abbott Laboratories (NYSE:ABT) declared a quarterly dividend on Friday, February 16th, RTT News reports. Investors of record on Friday, April 13th will be given a dividend of 0.28 per share by the healthcare product maker on Tuesday, May 15th. This represents a $1.12 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, April 12th.
Abbott Laboratories has raised its dividend by an average of 6.4% per year over the last three years and has increased its dividend annually for the last 45 consecutive years. Abbott Laboratories has a dividend payout ratio of 44.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Abbott Laboratories to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 34.8%.
NYSE:ABT opened at $57.57 on Friday. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26. The firm has a market capitalization of $104,535.55, a P/E ratio of 23.94, a PEG ratio of 1.78 and a beta of 1.50.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. Abbott Laboratories’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. analysts forecast that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.
Several brokerages have commented on ABT. Wells Fargo boosted their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Leerink Swann restated a “market perform” rating on shares of Abbott Laboratories in a research report on Friday, January 19th. Royal Bank of Canada restated a “buy” rating and set a $67.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Citigroup boosted their target price on shares of Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Finally, Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $63.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $65.47.
In related news, insider Stephen R. Fussell sold 56,401 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.61, for a total value of $3,362,063.61. Following the sale, the insider now directly owns 184,884 shares in the company, valued at approximately $11,020,935.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian J. Blaser sold 27,733 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the completion of the sale, the insider now owns 156,587 shares in the company, valued at $9,749,106.62. The disclosure for this sale can be found here. Insiders sold a total of 124,261 shares of company stock worth $7,559,987 over the last quarter. Insiders own 0.74% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ABT. Beach Investment Management LLC. boosted its position in shares of Abbott Laboratories by 2,161.4% in the 2nd quarter. Beach Investment Management LLC. now owns 302,577 shares of the healthcare product maker’s stock worth $14,708,000 after buying an additional 289,197 shares in the last quarter. Nationwide Fund Advisors raised its stake in Abbott Laboratories by 36.4% in the 2nd quarter. Nationwide Fund Advisors now owns 2,155,637 shares of the healthcare product maker’s stock valued at $104,786,000 after purchasing an additional 574,810 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in Abbott Laboratories by 35.7% in the 2nd quarter. Bahl & Gaynor Inc. now owns 3,700,426 shares of the healthcare product maker’s stock valued at $142,134,000 after purchasing an additional 974,395 shares during the last quarter. Profund Advisors LLC raised its stake in Abbott Laboratories by 3.7% in the 2nd quarter. Profund Advisors LLC now owns 71,677 shares of the healthcare product maker’s stock valued at $3,484,000 after purchasing an additional 2,528 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in Abbott Laboratories by 99.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 328,026 shares of the healthcare product maker’s stock valued at $15,945,000 after purchasing an additional 163,208 shares during the last quarter. Institutional investors and hedge funds own 72.37% of the company’s stock.
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About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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