Abbott Laboratories declares quarterly dividend of $0.47 (NYSE: ABT)
Abbott Laboratories (NYSE:ABT – Get Rating) announced a quarterly dividend on Thursday, September 15, reports RTT News. Investors of record on Friday, October 14 will receive a dividend of 0.47 per share from the healthcare maker on Tuesday, November 15. This represents an annualized dividend of $1.88 and a yield of 1.79%.
Abbott Laboratories has increased its dividend payout by an average of 16.2% per year over the past three years and has increased its dividend every year for the past 50 years. Abbott Laboratories has a dividend payout ratio of 40.2%, which means its dividend is sufficiently covered by earnings. Equity research analysts expect Abbott Laboratories to earn $4.64 per share next year, meaning the company should continue to be able to cover its $1.88 annual dividend. $ with an expected future payout ratio of 40.5%.
Performance of Abbott Laboratories shares
NYSE ABT traded down $0.72 during Thursday’s trading, hitting $105.06. The company’s shares had a trading volume of 4,217,135 shares, compared to its average volume of 5,446,556. The company has a market capitalization of $183.98 billion, a price-earnings ratio of 21, 94, a P/E/G ratio of 3.92 and a beta of 0.72. The company’s 50-day moving average price is $107.72 and its 200-day moving average price is $112.38. The company has a debt ratio of 0.46, a quick ratio of 1.54 and a current ratio of 2.01. Abbott Laboratories has a 12-month low of $101.21 and a 12-month high of $142.60.
Abbott Laboratories (NYSE:ABT – Get Rating) last released quarterly earnings data on Wednesday, July 20. The health care products maker reported EPS of $1.43 for the quarter, beating analyst consensus estimates of $1.09 by $0.34. The company posted revenue of $11.26 billion for the quarter, versus a consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The company’s revenue increased 10.1% year over year. In the same quarter a year earlier, the company earned earnings per share of $1.17. As a group, analysts expect Abbott Laboratories to post EPS of 4.99 for the current fiscal year.
Insider Trading at Abbott Laboratories
In other news, CEO Robert B. Ford sold 102,425 shares of Abbott Laboratories in a trade that took place Thursday, August 25. The shares were sold at an average price of $105.10, for a total value of $10,764,867.50. As a result of the transaction, the CEO now owns 142,071 shares of the company, valued at $14,931,662.10. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Abbott Laboratories news, CEO Robert B. Ford sold 102,425 shares of Abbott Laboratories in a trade Thursday, August 25. The stock was sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following completion of the transaction, the CEO now directly owns 142,071 shares of the company, valued at $14,931,662.10. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, Executive Vice President Joseph J. Manning sold 26,898 shares of Abbott Laboratories in a trade on Thursday, August 25. The shares were sold at an average price of $105.03, for a total value of $2,825,096.94. Following the transaction, the executive vice president now directly owns 53,245 shares of the company, valued at $5,592,322.35. The disclosure of this sale can be found here. Insiders have sold 204,788 shares of the company valued at $21,776,756 in the past three months. 0.52% of the shares are held by insiders.
Abbott Laboratories Institutional Trading
Several institutional investors and hedge funds have recently increased or reduced their stake in ABT. Arrowstreet Capital Limited Partnership increased its position in Abbott Laboratories shares by 83.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare products maker worth $582,924,000 after purchasing an additional 2,235,314 shares during the period. Renaissance Technologies LLC increased its position in Abbott Laboratories shares by 99.8% in the first quarter. Renaissance Technologies LLC now owns 3,140,866 shares of the healthcare maker valued at $371,753,000 after purchasing an additional 1,568,700 shares during the period. Worldquant Millennium Advisors LLC increased its position in Abbott Laboratories shares by 127.6% in the first quarter. Worldquant Millennium Advisors LLC now owns 522,115 shares of the healthcare maker valued at $61,798,000 after purchasing an additional 292,686 shares during the period. Charles Schwab Investment Management Inc. increased its position in Abbott Laboratories shares by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,523,473 shares of the healthcare maker valued at $1,363,917,000 after purchasing an additional 218,683 shares during the period. Finally, Caisse DE Dépôt ET Placement DU Québec acquired a new position in shares of Abbott Laboratories in the 1st quarter with a value of approximately $21,021,000. 73.03% of the shares are held by institutional investors.
A Wall Street analyst gives his opinion
A number of research companies have weighed in on ABT recently. Cowen cut his price target on Abbott Laboratories shares from $150.00 to $130.00 in a Wednesday, July 13 research report. Stifel Nicolaus cut his price target on Abbott Laboratories shares from $136.00 to $126.00 in a Monday July 18 research note. Citigroup lowered its price target on Abbott Laboratories shares from $125.00 to $123.00 and set a “buy” rating for the company in a Thursday, July 21 research note. BTIG Research cut its price target on Abbott Laboratories shares from $130.00 to $126.00 and set a “buy” rating for the company in a Monday, July 18 research note. Finally, Evercore ISI lowered its price target on Abbott Laboratories shares to $112.00 in a Friday, July 22 research note. One investment analyst gave the stock a sell rating, three gave the company a hold rating, eleven gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.46.
Abbott Laboratories Company Profile
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Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures and sells healthcare products worldwide. It operates in four segments: established pharmaceuticals, diagnostics, nutritionals and medical devices. The Established Pharmaceuticals segment provides generic pharmaceuticals for the treatment of exocrine pancreatic insufficiency, irritable bowel syndrome or bile spasms, intrahepatic cholestasis or depressive symptoms, gynecological disorders, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular dizziness, pain, fever, inflammation and migraine, as well as the anti-infective clarithromycin, flu vaccine and products for regulating the physiological rhythm of the colon.
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