Piscataqua Savings Bank Has $3.06 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Piscataqua Savings Bank reduced its position in Abbott Laboratories (NYSE:ABTGet Rating) by 41.6% during the second quarter, HoldingsChannel.com reports. The firm owned 28,129 shares of the healthcare product maker’s stock after selling 20,043 shares during the period. Abbott Laboratories makes up 2.7% of Piscataqua Savings Bank’s portfolio, making the stock its 8th biggest position. Piscataqua Savings Bank’s holdings in Abbott Laboratories were worth $3,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BMS Financial Advisors LLC raised its position in Abbott Laboratories by 4.8% in the 2nd quarter. BMS Financial Advisors LLC now owns 5,292 shares of the healthcare product maker’s stock worth $575,000 after purchasing an additional 240 shares during the period. Wedmont Private Capital raised its position in Abbott Laboratories by 4.8% in the 2nd quarter. Wedmont Private Capital now owns 7,660 shares of the healthcare product maker’s stock worth $832,000 after purchasing an additional 353 shares during the period. Carmel Capital Partners LLC raised its position in Abbott Laboratories by 24.7% in the 2nd quarter. Carmel Capital Partners LLC now owns 2,426 shares of the healthcare product maker’s stock worth $264,000 after purchasing an additional 481 shares during the period. Cim LLC raised its position in Abbott Laboratories by 9.9% in the 2nd quarter. Cim LLC now owns 12,949 shares of the healthcare product maker’s stock worth $1,415,000 after purchasing an additional 1,166 shares during the period. Finally, American National Bank raised its position in Abbott Laboratories by 13.0% in the 2nd quarter. American National Bank now owns 5,862 shares of the healthcare product maker’s stock worth $637,000 after purchasing an additional 676 shares during the period. 73.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of a number of research reports. UBS Group reduced their target price on shares of Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Citigroup reduced their target price on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. Cowen reduced their target price on shares of Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Erste Group Bank lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Stifel Nicolaus reduced their target price on shares of Abbott Laboratories from $136.00 to $126.00 in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $132.46.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 102,425 shares of Abbott Laboratories stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares in the company, valued at $14,931,662.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert B. Ford sold 102,425 shares of Abbott Laboratories stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares in the company, valued at $14,931,662.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Fernando Mateus sold 2,457 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total transaction of $267,935.85. Following the sale, the senior vice president now owns 14,503 shares of the company’s stock, valued at $1,581,552.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 204,788 shares of company stock worth $21,776,756. Company insiders own 0.52% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $104.00 on Monday. The company has a market cap of $182.13 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 3.85 and a beta of 0.72. Abbott Laboratories has a twelve month low of $101.21 and a twelve month high of $142.60. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $107.52 and a two-hundred day moving average of $112.06.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.34. The company had revenue of $11.26 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. Abbott Laboratories’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. As a group, analysts predict that Abbott Laboratories will post 4.99 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.81%. Abbott Laboratories’s payout ratio is currently 39.25%.

Abbott Laboratories Company Profile

(Get Rating)

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 Established Pharmaceutical Products segment 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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