Abbott Laboratories (NYSE:ABT) announced a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Stockholders of record on Friday, October 13th will be paid a dividend of 0.265 per share by the healthcare product maker on Wednesday, November 15th. This represents a $1.06 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, October 12th.

Abbott Laboratories has raised its dividend payment by an average of 22.9% annually over the last three years and has increased its dividend annually for the last 44 consecutive years. Abbott Laboratories has a payout ratio of 42.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Abbott Laboratories to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 38.1%.

Shares of Abbott Laboratories (ABT) traded up 0.14% during mid-day trading on Friday, hitting $51.76. 6,665,754 shares of the stock traded hands. The firm has a 50 day moving average of $49.96 and a 200 day moving average of $46.88. The stock has a market cap of $89.93 billion, a price-to-earnings ratio of 72.49 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $52.60.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the previous year, the business posted $0.55 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

Several equities analysts recently issued reports on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research note on Friday, September 1st. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a research note on Thursday, August 17th. They issued a “neutral” rating and a $53.00 target price for the company. Cowen and Company reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. BidaskClub cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $52.50.

In other news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now owns 221,488 shares of the company’s stock, valued at $10,963,656. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the sale, the insider now directly owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold 218,150 shares of company stock valued at $10,811,179 in the last ninety days. Insiders own 0.76% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Keel Point LLC grew its holdings in shares of Abbott Laboratories by 2.2% in the second quarter. Keel Point LLC now owns 13,580 shares of the healthcare product maker’s stock valued at $660,000 after purchasing an additional 294 shares during the period. Simmons Bank grew its holdings in shares of Abbott Laboratories by 1.5% in the second quarter. Simmons Bank now owns 23,978 shares of the healthcare product maker’s stock valued at $1,166,000 after purchasing an additional 343 shares during the period. Hutner Capital Management Inc. grew its holdings in shares of Abbott Laboratories by 1.0% in the second quarter. Hutner Capital Management Inc. now owns 42,298 shares of the healthcare product maker’s stock valued at $2,056,000 after purchasing an additional 411 shares during the period. South Texas Money Management Ltd. grew its holdings in shares of Abbott Laboratories by 5.7% in the second quarter. South Texas Money Management Ltd. now owns 8,195 shares of the healthcare product maker’s stock valued at $398,000 after purchasing an additional 444 shares during the period. Finally, National Asset Management Inc. grew its holdings in shares of Abbott Laboratories by 2.4% in the second quarter. National Asset Management Inc. now owns 20,413 shares of the healthcare product maker’s stock valued at $993,000 after purchasing an additional 473 shares during the period. 71.66% of the stock is owned by institutional investors and hedge funds.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Dividend History for Abbott Laboratories (NYSE:ABT)

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