Piscataqua Savings Bank Sells 87 Shares of Abbott Laboratories (NYSE:ABT)

Piscataqua Savings Bank lessened its stake in Abbott Laboratories (NYSE:ABT) by 1.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,383 shares of the healthcare product maker’s stock after selling 87 shares during the quarter. Piscataqua Savings Bank’s holdings in Abbott Laboratories were worth $835,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Scientech Research LLC bought a new stake in shares of Abbott Laboratories during the second quarter worth approximately $384,000. Kathmere Capital Management LLC raised its position in shares of Abbott Laboratories by 48.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 4,315 shares of the healthcare product maker’s stock valued at $448,000 after buying an additional 1,399 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of Abbott Laboratories by 13.8% during the 2nd quarter. Ascent Group LLC now owns 21,772 shares of the healthcare product maker’s stock worth $2,262,000 after acquiring an additional 2,639 shares during the period. Annandale Capital LLC increased its stake in Abbott Laboratories by 1,125.5% in the second quarter. Annandale Capital LLC now owns 33,124 shares of the healthcare product maker’s stock valued at $3,442,000 after acquiring an additional 30,421 shares during the last quarter. Finally, Copperwynd Financial LLC raised its position in Abbott Laboratories by 36.0% during the second quarter. Copperwynd Financial LLC now owns 8,620 shares of the healthcare product maker’s stock valued at $913,000 after purchasing an additional 2,282 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $125.12 on Monday. The stock has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $125.67. The stock’s 50-day moving average is $115.26 and its 200 day moving average is $113.46. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11,029,400 billion. During the same period last year, the firm earned $1.19 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 30.85%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABT. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Raymond James restated a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus upped their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

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 company 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.