Piscataqua Savings Bank Sells 136 Shares of Abbott Laboratories (NYSE:ABT)

Piscataqua Savings Bank cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 2nd quarter, Holdings Channel reports. The fund owned 26,726 shares of the healthcare product maker’s stock after selling 136 shares during the quarter. Abbott Laboratories accounts for approximately 2.4% of Piscataqua Savings Bank’s portfolio, making the stock its 9th biggest position. Piscataqua Savings Bank’s holdings in Abbott Laboratories were worth $2,914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Fairfield Bush & CO. bought a new stake in shares of Abbott Laboratories in the first quarter worth $131,000. United Bank grew its holdings in Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock worth $3,229,000 after buying an additional 1,826 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Abbott Laboratories by 1.9% during the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after buying an additional 15,521 shares in the last quarter. Kinneret Advisory LLC raised its stake in shares of Abbott Laboratories by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock worth $2,304,000 after buying an additional 436 shares in the last quarter. Finally, Lumature Wealth Partners LLC lifted its stake in Abbott Laboratories by 636.2% during the first quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after purchasing an additional 1,915 shares during the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $100.99 on Tuesday. The business has a 50 day moving average of $106.17 and a 200 day moving average of $105.24. The company has a market cap of $175.25 billion, a PE ratio of 34.47, a P/E/G ratio of 4.54 and a beta of 0.68. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.39. Abbott Laboratories has a 52 week low of $93.25 and a 52 week high of $115.83.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.71 billion. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 4.4 earnings per share for the current year.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $113.76, for a total value of $5,688,000.00. Following the sale, the director now owns 6,775,316 shares in the company, valued at approximately $770,759,948.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Daniel J. Starks sold 50,000 shares of the firm’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 transaction of $5,688,000.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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 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.