CIBC Asset Management Inc lifted its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 161,915 shares of the healthcare product maker’s stock after buying an additional 1,768 shares during the quarter. CIBC Asset Management Inc’s holdings in Abbott Laboratories were worth $8,640,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of ABT. Gratus Capital LLC increased its holdings in Abbott Laboratories by 0.9% during the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock worth $9,968,000 after purchasing an additional 1,869 shares during the period. Vantage Investment Advisors LLC increased its holdings in Abbott Laboratories by 103.4% during the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock worth $3,508,000 after purchasing an additional 36,683 shares during the period. Amalgamated Bank increased its holdings in Abbott Laboratories by 57.6% during the 2nd quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock worth $9,295,000 after purchasing an additional 69,871 shares during the period. Zurich Insurance Group Ltd FI increased its holdings in Abbott Laboratories by 2.5% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock worth $11,708,000 after purchasing an additional 5,790 shares during the period. Finally, Sather Financial Group Inc purchased a new position in Abbott Laboratories during the 2nd quarter worth $292,000. Hedge funds and other institutional investors own 71.15% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at $58.92 on Wednesday. Abbott Laboratories has a fifty-two week low of $39.25 and a fifty-two week high of $59.60. The stock has a market capitalization of $102,560.00, a price-to-earnings ratio of 48.69, a PEG ratio of 1.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.28 dividend. The ex-dividend date is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 87.60%.
Several research analysts have commented on ABT shares. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, September 22nd. Cowen restated a “buy” rating on shares of Abbott Laboratories in a report on Sunday, September 24th. Wells Fargo & Co raised their price objective on Abbott Laboratories from $57.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Barclays raised their price objective on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 28th. Finally, BMO Capital Markets restated a “hold” rating and set a $53.00 price objective on shares of Abbott Laboratories in a report on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $60.24.
In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of Abbott Laboratories stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the transaction, the executive vice president now directly owns 142,082 shares in the company, valued at approximately $7,986,429.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sharon J. Bracken sold 2,188 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the completion of the sale, the insider now directly owns 25,618 shares of the company’s stock, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. Insiders sold a total of 501,172 shares of company stock worth $27,533,150 over the last quarter. Company insiders own 0.76% of the company’s stock.
About Abbott Laboratories
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.
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