CIBC Asset Management Inc Lowers Position in Abbott Laboratories (NYSE:ABT)

CIBC Asset Management Inc decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 591,636 shares of the healthcare product maker’s stock after selling 105,015 shares during the period. CIBC Asset Management Inc’s holdings in Abbott Laboratories were worth $66,863,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABT. Insight Folios Inc raised its position in Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after acquiring an additional 87 shares in the last quarter. Sfmg LLC lifted its stake in shares of Abbott Laboratories by 1.9% in the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after purchasing an additional 88 shares during the period. River Street Advisors LLC grew its position in Abbott Laboratories by 1.2% during the fourth quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock worth $834,000 after buying an additional 88 shares during the period. Silicon Valley Capital Partners increased its holdings in Abbott Laboratories by 8.7% in the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock valued at $126,000 after buying an additional 89 shares in the last quarter. Finally, John G Ullman & Associates Inc. boosted its stake in shares of Abbott Laboratories by 0.3% during the 3rd quarter. John G Ullman & Associates Inc. now owns 30,617 shares of the healthcare product maker’s stock worth $3,491,000 after acquiring an additional 90 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.9 %

Shares of Abbott Laboratories stock opened at $130.63 on Monday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.65. The company has a market capitalization of $226.56 billion, a PE ratio of 17.08, a P/E/G ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a 50-day moving average of $118.97 and a 200-day moving average of $116.14.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the company posted $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were given a $0.59 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.81%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Ratings Changes

ABT has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, UBS Group lifted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.