Abbott Laboratories (NYSE:ABT) Announces $0.45 Quarterly Dividend

Abbott Laboratories (NYSE:ABT) announced a quarterly dividend on Wednesday, September 15th, RTT News reports. Investors of record on Friday, October 15th will be given a dividend of 0.45 per share by the healthcare product maker on Monday, November 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.41%.

Abbott Laboratories has increased its dividend payment by 35.9% over the last three years and has raised its dividend annually for the last 49 consecutive years.

Shares of NYSE:ABT traded up $0.51 during trading on Wednesday, hitting $127.56. 164,625 shares of the stock traded hands, compared to its average volume of 5,376,956. The company has a quick ratio of 1.36, a current ratio of 1.79 and a debt-to-equity ratio of 0.52. The company has a market cap of $226.14 billion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 2.45 and a beta of 0.66. The company has a fifty day moving average price of $123.08 and a two-hundred day moving average price of $119.30. Abbott Laboratories has a 52-week low of $100.34 and a 52-week high of $129.70.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion during the quarter, compared to analyst estimates of $9.67 billion. Abbott Laboratories had a net margin of 15.85% and a return on equity of 26.75%. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post 4.42 EPS for the current fiscal year.

In related news, EVP Andrea F. Wainer sold 14,500 shares of the company’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,812,500.00. Following the completion of the transaction, the executive vice president now directly owns 54,282 shares in the company, valued at approximately $6,785,250. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew H. Lane sold 135,925 shares of the business’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $125.47, for a total value of $17,054,509.75. The disclosure for this sale can be found here. Insiders sold a total of 222,883 shares of company stock valued at $27,964,400 over the last quarter. Company insiders own 1.50% of the company’s stock.

A hedge fund recently raised its stake in Abbott Laboratories stock. Morgan Stanley lifted its stake in Abbott Laboratories (NYSE:ABT) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,562,141 shares of the healthcare product maker’s stock after buying an additional 1,233,152 shares during the period. Morgan Stanley owned approximately 1.61% of Abbott Laboratories worth $3,311,209,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 72.05% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Raymond James increased their price objective on Abbott Laboratories from $116.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. BTIG Research increased their price target on Abbott Laboratories from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Morgan Stanley increased their price target on Abbott Laboratories from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, July 23rd. Barclays reduced their target price on Abbott Laboratories from $150.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, June 2nd. Finally, SVB Leerink raised their price target on Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research report on Tuesday, July 20th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $128.93.

About Abbott Laboratories

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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Dividend History for Abbott Laboratories (NYSE:ABT)

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