Abbott Laboratories (ABT) Shares Sold by Bath Savings Trust Co
Bath Savings Trust Co decreased its holdings in Abbott Laboratories (NYSE:ABT) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,379 shares of the healthcare product maker’s stock after selling 1,470 shares during the quarter. Bath Savings Trust Co’s holdings in Abbott Laboratories were worth $2,741,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in ABT. Cypress Capital Management LLC WY lifted its stake in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after acquiring an additional 696 shares during the period. Feltz Wealth PLAN Inc. purchased a new stake in Abbott Laboratories in the first quarter worth $112,000. Atwood & Palmer Inc. lifted its stake in Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after acquiring an additional 2,000 shares during the period. Independent Portfolio Consultants Inc. lifted its stake in Abbott Laboratories by 9.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after acquiring an additional 292 shares during the period. Finally, Farmers National Bank lifted its stake in Abbott Laboratories by 1.5% in the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after acquiring an additional 52 shares during the period. 71.66% of the stock is owned by institutional investors.
In related news, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares in the company, valued at approximately $10,963,656. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jared Watkin sold 552 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the sale, the insider now owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock valued at $10,837,658 over the last 90 days. 0.76% of the stock is currently owned by company insiders.
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A number of analysts recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a research note on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a report on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and issued a $57.00 price objective (up previously from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Citigroup Inc. started coverage on Abbott Laboratories in a report on Thursday, August 17th. They issued a “neutral” rating and a $53.00 price objective for the company. Finally, Cowen and Company reiterated a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 17th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $52.50.
Shares of Abbott Laboratories (ABT) traded down 0.04% during trading on Wednesday, hitting $52.23. The stock had a trading volume of 1,243,984 shares. The stock has a 50-day moving average price of $49.89 and a 200 day moving average price of $46.81. The company has a market cap of $90.75 billion, a P/E ratio of 73.15 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $52.60.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. Equities analysts expect that Abbott Laboratories will post $2.49 EPS for the current fiscal year.
Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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