Abbott Laboratories (NYSE:ABT) declared a quarterly dividend on Friday, June 14th, RTT News reports. Shareholders 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 1.56%.
Abbott Laboratories has increased its dividend payment by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 46 years. Abbott Laboratories has a dividend payout ratio of 44.4% meaning its dividend is sufficiently covered by earnings. 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 traded down $0.17 during trading on Monday, reaching $82.05. The company’s stock had a trading volume of 1,937,012 shares, compared to its average volume of 4,551,025. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market cap of $145.05 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. Abbott Laboratories has a twelve month low of $60.31 and a twelve month high of $82.86. The business’s fifty day moving average price is $77.77.
Several equities research analysts recently issued reports on ABT shares. Barclays set a $84.00 price target on Abbott Laboratories and gave the company a “buy” rating in a research report on Friday, March 8th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Royal Bank of Canada upped their price target on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Finally, William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $80.89.
In other news, insider Brian J. Blaser sold 450,062 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the transaction, the insider now owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 10,600 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $82.00, for a total value of $869,200.00. Following the completion of the transaction, the insider now directly owns 99,479 shares of the company’s stock, valued at approximately $8,157,278. The disclosure for this sale can be found here. In the last three months, insiders sold 922,623 shares of company stock valued at $70,308,258. Company insiders own 0.70% of the company’s stock.
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Abbott Laboratories Company Profile
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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