What's Happening with ABT
Abbott Labs (ABT) is a dividend aristocrat with a 46-year streak of dividend increases. The company is likely to extend that streak this week when it announces its next quarterly distribution. ABT shares are up 18.5% on the year.
Technical Analysis
ABT was recently trading at $85.7 down $3.06 from its 12-month high and $20.26 above its 12-month low. InvestorsObserver's Stock Score Report gives ABT a 41 long-term technical score and a 56 short-term technical score. The stock has recent support above $78 and recent resistance below $88. Of the 12 analysts who cover the stock 9 rate it Strong Buy, 1 rate it Buy, 1 rate it Hold, 0 rate it Sell, and 1 rate it Strong Sell, ABT gets a score of 48 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
Given ABT's standing as a dividend aristocrat with such a long streak of increases, the company is very unlikely to break its streak of increases. The stock currently has a 39% payout ratio, so the company can easily afford to extend its streak of increases. Abbott has historically announced its dividend increases mid-December so this year's increase could come any day. The stock is yielding 1.5%. Last year the company boosted its dividend by 14%, and in the previous year, it lifted its quarterly distribution by 5.6%. Look for this year's increase to fall someone in the middle with the quarterly distribution rising from $0.28 to $0.305 which would translate to an increase of 9%. Look for the announcement this week with the stock trading ex-dividend mid-January. Analysts have an average price target of $93.80 on the stock.