Peoples Financial Services CORP. Trims Stake in Abbott Laboratories (NYSE:ABT)

Peoples Financial Services CORP. reduced its position in Abbott Laboratories (NYSE:ABT) by 1.1% during the second quarter, HoldingsChannel.com reports. The firm owned 19,678 shares of the healthcare product maker’s stock after selling 225 shares during the period. Peoples Financial Services CORP.’s holdings in Abbott Laboratories were worth $1,655,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABT. Norges Bank purchased a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $1,239,454,000. FMR LLC increased its position in shares of Abbott Laboratories by 118.2% during the fourth quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock worth $1,718,726,000 after acquiring an additional 12,871,418 shares during the period. Ronna Sue Cohen increased its position in shares of Abbott Laboratories by 7,636.6% during the first quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock worth $6,249,000 after acquiring an additional 6,168,186 shares during the period. BlackRock Inc. increased its position in shares of Abbott Laboratories by 3.3% during the fourth quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock worth $8,755,228,000 after acquiring an additional 3,842,101 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Abbott Laboratories by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock worth $1,598,270,000 after acquiring an additional 1,778,840 shares during the period. 73.40% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on ABT. Wells Fargo & Co reaffirmed a “hold” rating on shares of Medidata Solutions in a research report on Thursday, June 13th. Jefferies Financial Group lowered shares of Alcoa from a “buy” rating to a “hold” rating and reduced their target price for the stock from $29.00 to $23.00 in a research report on Thursday, July 18th. BMO Capital Markets reduced their target price on shares of Comerica to $78.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Finally, Bank of America set a $10.00 target price on shares of HEXO and gave the stock a “buy” rating in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $85.82.

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $82.00, for a total value of $596,058.00. Following the completion of the sale, the executive vice president now directly owns 99,479 shares in the company, valued at $8,157,278. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jaime Contreras sold 82,732 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $70.00, for a total transaction of $5,791,240.00. Following the completion of the sale, the senior vice president now owns 80,722 shares of the company’s stock, valued at $5,650,540. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,142,992 shares of company stock worth $89,513,951. 0.70% of the stock is currently owned by corporate insiders.

ABT stock traded up $0.67 during trading on Tuesday, hitting $88.74. 3,821,428 shares of the company’s stock traded hands, compared to its average volume of 5,737,352. The company has a market capitalization of $155.11 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 2.46 and a beta of 1.10. The stock’s fifty day moving average price is $83.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13. Abbott Laboratories has a 1 year low of $63.07 and a 1 year high of $88.76.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.39%. Abbott Laboratories’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is 44.44%.

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines 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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