Abbott Laboratories (NYSE:ABT) Stock Position Cut by Piscataqua Savings Bank

Piscataqua Savings Bank decreased its holdings in Abbott Laboratories (NYSE:ABT) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,726 shares of the healthcare product maker’s stock after selling 136 shares during the quarter. Abbott Laboratories accounts for about 2.4% of Piscataqua Savings Bank’s holdings, making the stock its 9th biggest holding. Piscataqua Savings Bank’s holdings in Abbott Laboratories were worth $2,914,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ABT. Investment Advisory Services Inc. TX ADV lifted its holdings in Abbott Laboratories by 0.4% in the first quarter. Investment Advisory Services Inc. TX ADV now owns 22,785 shares of the healthcare product maker’s stock valued at $2,307,000 after acquiring an additional 93 shares during the period. Patriot Investment Management Group Inc. grew its position in Abbott Laboratories by 3.1% during the fourth quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock worth $356,000 after buying an additional 96 shares during the period. Delta Financial Group Inc. boosted its stake in shares of Abbott Laboratories by 1.5% during the 1st quarter. Delta Financial Group Inc. now owns 6,475 shares of the healthcare product maker’s stock worth $656,000 after acquiring an additional 96 shares in the last quarter. Trifecta Capital Advisors LLC grew its holdings in shares of Abbott Laboratories by 21.2% in the 1st quarter. Trifecta Capital Advisors LLC now owns 548 shares of the healthcare product maker’s stock worth $55,000 after acquiring an additional 96 shares during the period. Finally, Capital City Trust Co. FL boosted its position in Abbott Laboratories by 2.1% during the first quarter. Capital City Trust Co. FL now owns 4,638 shares of the healthcare product maker’s stock worth $470,000 after purchasing an additional 97 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.7 %

Shares of Abbott Laboratories stock opened at $100.99 on Tuesday. The company has a fifty day moving average price of $106.17 and a 200 day moving average price of $105.24. The stock has a market cap of $175.25 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 4.54 and a beta of 0.68. Abbott Laboratories has a twelve month low of $93.25 and a twelve month high of $115.83. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The business had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.71 billion. During the same period last year, the business posted $1.43 EPS. The company’s revenue was down 11.4% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 4.4 earnings per share for the current fiscal year.

Insider Activity

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $6,829,785.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the transaction, the director now directly owns 6,775,316 shares of the company’s stock, valued at approximately $770,759,948.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at $6,829,785.81. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ABT shares. Barclays raised their target price on shares of Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, July 24th. StockNews.com initiated coverage on Abbott Laboratories in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Morgan Stanley reissued an “equal weight” rating and set a $112.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. Wolfe Research raised shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 21st. Finally, Mizuho increased their price objective on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.82.

Abbott Laboratories 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 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.