Abbott Laboratories (NYSE:ABT) declared a quarterly dividend on Friday, June 14th, RTT News reports. Stockholders of record on Monday, July 15th will be paid a dividend of 0.32 per share by the healthcare product maker on Thursday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Friday, July 12th.
Abbott Laboratories has increased its dividend by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 46 years. Abbott Laboratories has a dividend payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Abbott Laboratories to earn $3.61 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 35.5%.
Shares of ABT opened at $85.38 on Thursday. Abbott Laboratories has a 1 year low of $61.55 and a 1 year high of $85.88. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $150.43 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.40 and a beta of 1.10. The business’s 50-day moving average is $81.43.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The company had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 3.22 EPS for the current fiscal year.
In related news, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $84.00, for a total transaction of $5,964,000.00. Following the completion of the sale, the executive vice president now owns 167,148 shares of the company’s stock, valued at $14,040,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jaime Contreras sold 82,732 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $70.00, for a total value of $5,791,240.00. Following the sale, the senior vice president now directly owns 80,722 shares of the company’s stock, valued at approximately $5,650,540. The disclosure for this sale can be found here. Insiders have sold 1,199,910 shares of company stock valued at $93,837,075 in the last ninety days. 0.70% of the stock is currently owned by insiders.
ABT has been the subject of a number of analyst reports. Zacks Investment Research downgraded Home Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Bank of America set a $10.00 price objective on HEXO and gave the stock a “buy” rating in a research report on Thursday, June 13th. Wells Fargo & Co restated a “hold” rating on shares of Medidata Solutions in a research report on Thursday, June 13th. Finally, Royal Bank of Canada raised their price objective on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average target price of $81.38.
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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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