CIBC Private Wealth Group LLC Has $533.27 Million Position in Abbott Laboratories (NYSE:ABT)

CIBC Private Wealth Group LLC cut its position in Abbott Laboratories (NYSE:ABT) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,667,557 shares of the healthcare product maker’s stock after selling 119,519 shares during the period. Abbott Laboratories comprises about 1.0% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 16th largest position. CIBC Private Wealth Group LLC’s holdings in Abbott Laboratories were worth $533,268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. RWA Wealth Partners LLC grew its position in shares of Abbott Laboratories by 1.9% in the 4th quarter. RWA Wealth Partners LLC now owns 254,544 shares of the healthcare product maker’s stock valued at $28,792,000 after purchasing an additional 4,705 shares during the period. Schroder Investment Management Group lifted its stake in Abbott Laboratories by 8.1% in the fourth quarter. Schroder Investment Management Group now owns 1,079,490 shares of the healthcare product maker’s stock valued at $122,101,000 after buying an additional 80,661 shares in the last quarter. Allianz SE acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $8,342,000. WealthTrak Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $28,000. Finally, Allstate Corp bought a new stake in Abbott Laboratories in the 4th quarter valued at $5,893,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ABT. Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group boosted their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America lifted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 in the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $130.81 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $226.87 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The stock has a 50 day moving average of $130.05 and a 200-day moving average of $120.37.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.80%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Abbott Laboratories 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.