Abbott Laboratories (NYSE:ABT) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 696,651 shares of the healthcare product maker's stock after purchasing an additional 14,708 shares during the quarter. CIBC Asset Management Inc's holdings in Abbott Laboratories were worth $79,353,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Insight Folios Inc grew its stake 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 valued at $307,000 after purchasing an additional 87 shares in the last quarter. Boltwood Capital Management grew its stake in shares of Abbott Laboratories by 0.4% in the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker's stock valued at $2,488,000 after buying an additional 89 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker's stock worth $359,000 after acquiring an additional 89 shares in the last quarter. Silicon Valley Capital Partners lifted its stake 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 acquiring an additional 89 shares during the last quarter. Finally, Atwood & Palmer Inc. increased its stake in shares of Abbott Laboratories by 6.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker's stock worth $169,000 after purchasing an additional 90 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $0.74 during mid-day trading on Friday, reaching $115.77. 3,552,185 shares of the company traded hands, compared to its average volume of 5,686,560. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 52 week low of $97.64 and a 52 week high of $121.64. The firm has a market cap of $200.80 billion, a PE ratio of 35.00, a PEG ratio of 2.72 and a beta of 0.72. The company's 50 day moving average price is $115.49 and its 200-day moving average price is $109.43.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analysts' expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. On average, equities analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories's dividend payout ratio is presently 66.87%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABT shares. UBS Group upped their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Barclays raised their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Raymond James reaffirmed a "buy" rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $130.07.

About Abbott Laboratories

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.