Abbott Laboratories

Abbott Laboratories (ABT - Analyst Report) has been outpacing the Dow Jones ($DJI), S&P 500 Index (SPX) and the NASDAQ (COMP) lately. The company offers a dividend yield of 2.75%, which is well above the industry average.

Company Description

Abbott is a global, broad-based health care company that develops, manufactures and markets pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs more than 68,000 people and markets its products in more than 130 countries. The company is headquartered in north suburban Chicago.

Strong Third-quarter Growth

In mid-October, the company reported solid results for the third quarter. Earnings per share of 79 cents surpassed the year-prior 67 cents and exceeded the consensus estimate by 3%. Worldwide sales jumped 17.6% on a year-over-year basis.

”All of Abbott's businesses are performing exceptionally well, ahead of expectations," said Miles D. White, chairman and chief executive officer, Abbott. "Abbott remains well-positioned, with strong core growth franchises, including our emerging vascular business, which is rapidly becoming a significant contributor to Abbott's growth."

Continues to Reward Shareholders with Income

In mid-September, the company declared a quarterly dividend of 36 cents per share, noting that this was the 339th consecutive quarterly dividend paid out by Abbott since 1924. The dividend was paid out on November 15, 2008.

The dividend translates into a yield of 2.75%, which stands high above the yields offered by its peers as most companies within ABT’s industry group offer no dividend.

Abbott stated that it increased its dividend payout for 36 consecutive years, which included a 10.8% increase earlier this year.

Wall Street is Bullish on ABT

Abbott Laboratories has seen analysts boost full-year earnings estimates. Forecasts of $3.32 per share were increased from $3.27 over the past 2 months.

Read the full analyst report on ABT