CIBC World Markets Inc. Decreases Holdings in Abbott Laboratories (ABT)

CIBC World Markets Inc. lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 34.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,753 shares of the healthcare product maker’s stock after selling 71,558 shares during the quarter. CIBC World Markets Inc.’s holdings in Abbott Laboratories were worth $10,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth $103,000. Atlantic Trust LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth $104,000. Fort L.P. bought a new stake in shares of Abbott Laboratories during the second quarter worth $119,000. Security National Bank of SO Dak grew its stake in shares of Abbott Laboratories by 72.0% during the second quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock worth $128,000 after buying an additional 878 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV grew its stake in shares of Abbott Laboratories by 1,069.5% during the second quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock worth $131,000 after buying an additional 4,000 shares during the last quarter. 72.39% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on ABT. JPMorgan Chase & Co. boosted their target price on shares of Abbott Laboratories from $77.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, October 8th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Barclays began coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They set an “overweight” rating and a $80.00 target price on the stock. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Finally, Royal Bank of Canada boosted their target price on shares of Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $75.90.

Shares of Abbott Laboratories stock opened at $74.05 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a twelve month low of $54.32 and a twelve month high of $74.23. The firm has a market capitalization of $130.06 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 2.20 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Abbott Laboratories’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were paid a $0.28 dividend. The ex-dividend date was Friday, October 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.51%. Abbott Laboratories’s dividend payout ratio is 44.80%.

In related news, SVP Sharon J. Bracken sold 1,732 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total value of $127,042.20. Following the transaction, the senior vice president now owns 39,229 shares in the company, valued at $2,877,447.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.39, for a total transaction of $366,950.00. Following the completion of the transaction, the insider now owns 93,321 shares in the company, valued at approximately $6,848,828.19. The disclosure for this sale can be found here. In the last three months, insiders sold 272,273 shares of company stock worth $19,410,942. 0.74% of the stock is currently owned by insiders.

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Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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