CIBC Asset Management Inc grew its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 10.6% during the 4th quarter, Holdings Channel reports. The fund owned 640,677 shares of the healthcare product maker’s stock after purchasing an additional 61,369 shares during the period. CIBC Asset Management Inc’s holdings in Abbott Laboratories were worth $80,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $27,000. Guerra Advisors Inc purchased a new stake in shares of Abbott Laboratories in the third quarter worth about $31,000. Bridge Generations Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $35,000. 75.18% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Price Performance
Shares of ABT stock opened at $87.02 on Wednesday. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $139.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market capitalization of $151.57 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The firm’s 50-day moving average is $94.07 and its two-hundred day moving average is $110.31.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on ABT. TD Cowen decreased their price target on shares of Abbott Laboratories from $137.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Mizuho decreased their price target on shares of Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Argus decreased their price target on shares of Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. BTIG Research reiterated a “buy” rating and set a $131.00 price objective on shares of Abbott Laboratories in a research report on Monday, April 27th. Finally, Daiwa Securities Group downgraded Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.09.
Check Out Our Latest Stock Report on Abbott Laboratories
Insiders Place Their Bets
In other Abbott Laboratories news, Director Daniel J. Starks bought 10,000 shares of Abbott Laboratories stock in a transaction on Monday, April 27th. The shares were bought at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the transaction, the director directly owned 6,751,103 shares of the company’s stock, valued at $625,489,692.95. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Philip P. Boudreau acquired 2,200 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was bought at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the acquisition, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is owned by insiders.
Abbott Laboratories Company Profile
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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