Cidel Asset Management Inc. Has $36.33 Million Holdings in Abbott Laboratories (NYSE:ABT)

Cidel Asset Management Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 62.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,220 shares of the healthcare product maker’s stock after acquiring an additional 124,023 shares during the quarter. Abbott Laboratories accounts for about 2.4% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 10th biggest position. Cidel Asset Management Inc.’s holdings in Abbott Laboratories were worth $36,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Welch Group LLC boosted its stake in Abbott Laboratories by 5.3% in the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock valued at $7,744,000 after buying an additional 3,479 shares in the last quarter. Bath Savings Trust Co boosted its stake in shares of Abbott Laboratories by 3.7% in the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after purchasing an additional 5,881 shares in the last quarter. Simplify Asset Management Inc. increased its position in shares of Abbott Laboratories by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after purchasing an additional 5,664 shares in the last quarter. Pensionfund Sabic bought a new position in Abbott Laboratories during the 4th quarter valued at about $2,828,000. Finally, Sequoia Financial Advisors LLC boosted its position in Abbott Laboratories by 19.6% in the third quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock valued at $22,091,000 after buying an additional 31,720 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT stock opened at $129.11 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $132.50. The business’s fifty day moving average is $117.25 and its 200-day moving average is $114.93. The company has a market cap of $223.93 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the business earned $1.19 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is 30.85%.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Barclays reissued an “overweight” rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have 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 an average target price of $133.06.

Abbott Laboratories Company 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.