Peoples Financial Services CORP. decreased its position in Abbott Laboratories (NYSE: ABT – Get Rating) by 10.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 19,160 shares of the healthcare product maker’s stock after selling 2,164 shares during the period. Abbott Laboratories makes up 1.0% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 27th largest position. Peoples Financial Services CORP.’s holdings in Abbott Laboratories were worth $ 2,268,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. New World Advisors LLC acquired a new position in Abbott Laboratories during the 3rd quarter valued at approximately $ 477,000. Garde Capital Inc. boosted its position in Abbott Laboratories by 34.6% during the 3rd quarter. Garde Capital Inc. now owns 2,058 shares of the healthcare product maker’s stock valued at $ 243,000 after purchasing an additional 529 shares during the period. Wealthsource Partners LLC boosted its position in Abbott Laboratories by 19.1% during the 3rd quarter. Wealthsource Partners LLC now owns 12,933 shares of the healthcare product maker’s stock valued at $ 1,528,000 after purchasing an additional 2,074 shares during the period. Personal CFO Solutions LLC boosted its position in Abbott Laboratories by 1.3% during the 3rd quarter. Personal CFO Solutions LLC now owns 20,637 shares of the healthcare product maker’s stock valued at $ 2,438,000 after purchasing an additional 264 shares during the period. Finally, CFS Investment Advisory Services LLC acquired a new position in Abbott Laboratories during the 3rd quarter valued at approximately $ 2,362,000. Institutional investors own 73.46% of the company stock.
Shares of Abbott Laboratories stock opened at $ 109.45 on Friday. The stock’s fifty day moving average is $ 112.55 and its 200-day moving average is $ 121.22. The firm has a market capitalization of $ 191.64 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 12-month low of $ 101.24 and a 12-month high of $ 142.60.
Abbott Laboratories (NYSE: ABT – Get Rating) last announced its earnings results on Wednesday, April 20th. The healthcare product maker reported $ 1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 1.47 by $ 0.26. The company had revenue of $ 11.90 billion for the quarter, compared to analyst estimates of $ 11 billion. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. Abbott Laboratories’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $ 1.32 earnings per share. Analysts expect that Abbott Laboratories will post 4.84 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be given a dividend of $ 0.47 per share. This represents a $ 1.88 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 43.62%.
In other news, SVP Randel William Woodgrift sold 24,000 shares of Abbott Laboratories stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $ 113.00, for a total transaction of $ 2,712,000.00. Following the transaction, the senior vice president now owns 47,854 shares in the company, valued at $ 5,407,502. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $ 113.22, for a total value of $ 5,661,000.00. Following the transaction, the director now owns 6,973,500 shares in the company, valued at approximately $ 789,539,670. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.
A number of research analysts recently issued reports on the company. Raymond James reduced their price objective on Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. StockNews.com assumed coverage on Abbott Laboratories in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. BTIG Research reduced their price target on Abbott Laboratories from $ 140.00 to $ 130.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley reduced their price target on Abbott Laboratories from $ 151.00 to $ 145.00 and set an “overweight” rating for the company in a research report on Tuesday, June 7th. Finally, Wells Fargo & Company reduced their price target on Abbott Laboratories from $ 155.00 to $ 150.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $ 139.64.
About Abbott Laboratories: (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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