Abbott Laboratories (NYSE:ABT) will issue a quarterly dividend of $0.55

Abbott Laboratories (NYSE:ABT – Get Free Report) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.55 per share by the medical products maker on Friday, November 15th. This represents a dividend of $2.20 on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, October 15th.

Abbott Laboratories has increased its dividend by an average of 12.3% annually over the past three years and has increased its dividend annually for the past 53 consecutive years. Abbott Laboratories has a dividend payout ratio of 42.8%, indicating that its dividend is sufficiently covered by earnings. Analysts expect Abbott Laboratories to earn $5.13 per share next year, meaning the company should be able to continue to cover its $2.20 annual dividend with an estimated future payout ratio of 42.9% .

Abbott Laboratories Price Performance

Shares of ABT stock traded down $0.59 on Friday, reaching $113.56. 3,520,738 shares of the company’s stock were exchanged, compared to its average volume of 5,811,661. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68, and a quick ratio of 1.18. The company has a 50-day moving average of $110.32 and a 200-day moving average of $108.64. The stock has a market cap of $197.55 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT – Get Free Report ) last posted its quarterly earnings results on Thursday, July 18th. The medical products maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted EPS of $1.08. On average, equities research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Insiders place their bets

In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Company insiders own 1.10% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of brokerages have recently commented on ABT. Barclays upped their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI decreased their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Citigroup upped their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average price target of $123.33, according to MarketBeat.com.

Read the latest Abbott Laboratories review

About Abbott Laboratories

(Get a free report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures and sells health care products worldwide. It operates in four segments: Established Pharmaceuticals, Diagnostics, Nutritional Products and Medical Devices. The company provides generic pharmaceutical products for the treatment of exocrine pancreatic insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorders, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease, vestibular pain and inflammation. , and migraine, as well as offering the anti-infective clarithromycin, flu vaccine, and products to regulate the physiological rhythm of the colon.

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