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Cidel Asset Management Inc. Buys 4,300 Shares of Abbott Laboratories (NYSE:ABT)

Abbott Laboratories logo with Medical background

Cidel Asset Management Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,520 shares of the healthcare product maker's stock after buying an additional 4,300 shares during the quarter. Abbott Laboratories comprises approximately 2.8% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 6th biggest position. Cidel Asset Management Inc.'s holdings in Abbott Laboratories were worth $43,180,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ABT. Redwood Park Advisors LLC bought a new position in Abbott Laboratories in the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC raised its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ABT. Wells Fargo & Company upped their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Barclays increased their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $142.61.

View Our Latest Report on ABT

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Trading Down 0.3%

Shares of ABT stock traded down $0.42 on Thursday, hitting $133.70. The company had a trading volume of 3,113,311 shares, compared to its average volume of 6,141,807. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The stock's 50-day moving average is $133.11 and its two-hundred day moving average is $128.01. The firm has a market cap of $232.61 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.59 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is 30.61%.

Abbott Laboratories Profile

(Free Report)

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.

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

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