Abbott Laboratories (NYSE:ABT) Announces Quarterly Dividend of $0.32
Abbott Laboratories (NYSE:ABT) announced a quarterly dividend on Thursday, September 12th, RTT News reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.32 per share by the healthcare product maker on Friday, November 15th. This represents a $1.28 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, October 11th.
Abbott Laboratories has increased its dividend payment by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 46 consecutive years. Abbott Laboratories has a payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Abbott Laboratories to earn $3.63 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 35.3%.
ABT stock opened at $79.50 on Thursday. The firm’s fifty day simple moving average is $83.30 and its 200-day simple moving average is $81.65. The company has a market capitalization of $143.23 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. Abbott Laboratories has a 12 month low of $65.44 and a 12 month high of $88.76.
In other Abbott Laboratories news, CFO Brian B. Yoor sold 43,763 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the completion of the transaction, the chief financial officer now directly owns 125,781 shares in the company, valued at $10,788,236.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $85.14, for a total transaction of $4,020,821.64. Following the transaction, the senior vice president now owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The disclosure for this sale can be found here. Insiders have sold 181,497 shares of company stock worth $15,701,810 over the last three months. 0.70% of the stock is currently owned by insiders.
ABT has been the topic of several recent research reports. Cowen upped their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Bank of America reissued a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a report on Thursday, June 13th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. ValuEngine downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co increased their price target on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $86.74.
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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