Scotia Capital Inc. Purchases 24,774 Shares of Abbott Laboratories (ABT)

Scotia Capital Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 9.5% during the 4th quarter, Holdings Channel reports. The fund owned 285,701 shares of the healthcare product maker’s stock after acquiring an additional 24,774 shares during the quarter. Scotia Capital Inc.’s holdings in Abbott Laboratories were worth $16,307,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Sectoral Asset Management Inc acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $21,853,000. CWA Asset Management Group LLC boosted its position in shares of Abbott Laboratories by 5.8% during the 4th quarter. CWA Asset Management Group LLC now owns 17,705 shares of the healthcare product maker’s stock valued at $1,010,000 after acquiring an additional 970 shares during the last quarter. Signaturefd LLC boosted its position in shares of Abbott Laboratories by 9.5% during the 4th quarter. Signaturefd LLC now owns 16,213 shares of the healthcare product maker’s stock valued at $925,000 after acquiring an additional 1,401 shares during the last quarter. Pitcairn Co. boosted its position in shares of Abbott Laboratories by 16.4% during the 4th quarter. Pitcairn Co. now owns 17,892 shares of the healthcare product maker’s stock valued at $1,021,000 after acquiring an additional 2,525 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Abbott Laboratories by 73.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 383,662 shares of the healthcare product maker’s stock valued at $21,896,000 after acquiring an additional 161,980 shares during the last quarter. 72.37% of the stock is currently owned by hedge funds and other institutional investors.

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Several research analysts have recently weighed in on the stock. Wells Fargo boosted their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Leerink Swann reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research report on Friday, January 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $67.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Citigroup upped their target price on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Finally, Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $65.47.

In other Abbott Laboratories news, Director Daniel J. Starks purchased 40,037 shares of Abbott Laboratories stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $60.67 per share, with a total value of $2,429,044.79. Following the completion of the transaction, the director now owns 6,943,348 shares of the company’s stock, valued at $421,252,923.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Blaser sold 27,733 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the sale, the insider now directly owns 156,587 shares in the company, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. Insiders have sold 124,261 shares of company stock worth $7,559,987 in the last three months. Corporate insiders own 0.74% of the company’s stock.

Shares of ABT opened at $57.57 on Monday. The stock has a market cap of $100,536.45, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.49. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The business’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. analysts predict that Abbott Laboratories will post 2.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.95%. Abbott Laboratories’s dividend payout ratio is presently 44.80%.

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Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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