Abbott Laboratories (NYSE:ABT) Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,321 shares of the healthcare product maker’s stock after selling 971 shares during the period. Abbott Laboratories makes up about 0.9% of Citizens & Northern Corp’s portfolio, making the stock its 22nd biggest holding. Citizens & Northern Corp’s holdings in Abbott Laboratories were worth $2,457,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Stuart Chaussee & Associates Inc. raised its holdings in shares of Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Rise Advisors LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at $37,000. Private Wealth Management Group LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth about $44,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded down $0.53 during midday trading on Thursday, hitting $104.29. The company had a trading volume of 4,082,656 shares, compared to its average volume of 5,631,612. The business’s 50-day simple moving average is $108.59 and its 200-day simple moving average is $109.50. The stock has a market cap of $181.43 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders sold a total of 46,884 shares of company stock valued at $5,153,916 over the last 90 days. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays decreased their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada cut their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.60.

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.