Citizens & Northern Corp Sells 957 Shares of Abbott Laboratories (NYSE:ABT)

Citizens & Northern Corp trimmed its position in Abbott Laboratories (NYSE:ABT) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,007 shares of the healthcare product maker’s stock after selling 957 shares during the period. Citizens & Northern Corp’s holdings in Abbott Laboratories were worth $2,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Encompass More Asset Management boosted its stake in Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock worth $312,000 after buying an additional 96 shares in the last quarter. Wynn Capital LLC raised its position in Abbott Laboratories by 2.9% in the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares during the period. Berger Financial Group Inc lifted its stake in Abbott Laboratories by 3.0% in the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after purchasing an additional 99 shares during the last quarter. Hummer Financial Advisory Services Inc grew its stake in shares of Abbott Laboratories by 1.2% during the first quarter. Hummer Financial Advisory Services Inc now owns 8,290 shares of the healthcare product maker’s stock valued at $942,000 after buying an additional 100 shares during the last quarter. Finally, Bfsg LLC increased its holdings in shares of Abbott Laboratories by 21.4% in the first quarter. Bfsg LLC now owns 567 shares of the healthcare product maker’s stock worth $64,000 after buying an additional 100 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barclays increased their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Citigroup increased their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $113.27 on Friday. The stock has a market cap of $197.05 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm’s 50-day moving average is $106.97 and its 200 day moving average is $108.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were paid a $0.55 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.