Abbott Laboratories (ABT) Holdings Trimmed by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,542 shares of the healthcare product maker’s stock after selling 1,757 shares during the period. Abbott Laboratories comprises approximately 1.4% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 24th biggest position. Orrstown Financial Services Inc.’s holdings in Abbott Laboratories were worth $1,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BTIM Corp. lifted its holdings in shares of Abbott Laboratories by 1.6% in the third quarter. BTIM Corp. now owns 52,381 shares of the healthcare product maker’s stock worth $3,843,000 after acquiring an additional 849 shares during the last quarter. Country Club Trust Company n.a. lifted its holdings in shares of Abbott Laboratories by 21.1% in the third quarter. Country Club Trust Company n.a. now owns 18,319 shares of the healthcare product maker’s stock worth $1,344,000 after acquiring an additional 3,190 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of Abbott Laboratories by 5.4% in the third quarter. Calamos Advisors LLC now owns 391,539 shares of the healthcare product maker’s stock worth $28,723,000 after acquiring an additional 20,152 shares during the last quarter. Delta Asset Management LLC TN lifted its holdings in shares of Abbott Laboratories by 98.9% in the third quarter. Delta Asset Management LLC TN now owns 11,464 shares of the healthcare product maker’s stock worth $841,000 after acquiring an additional 5,700 shares during the last quarter. Finally, UMB Bank N A MO lifted its stake in Abbott Laboratories by 45.3% in the 3rd quarter. UMB Bank N A MO now owns 361,120 shares of the healthcare product maker’s stock valued at $26,492,000 after purchasing an additional 112,586 shares during the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.

In related news, insider Sharon J. Bracken sold 615 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $65.16, for a total transaction of $40,073.40. Following the completion of the transaction, the insider now directly owns 40,761 shares of the company’s stock, valued at approximately $2,655,986.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jaime Contreras sold 64,268 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total value of $4,295,673.12. Following the transaction, the senior vice president now directly owns 125,471 shares of the company’s stock, valued at $8,386,481.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,912 shares of company stock valued at $9,443,816. 0.74% of the stock is owned by corporate insiders.



ABT stock opened at $67.67 on Friday. The firm has a market cap of $120.21 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.49. Abbott Laboratories has a 52-week low of $53.61 and a 52-week high of $74.15. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.01%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. On average, research analysts predict that Abbott Laboratories will post 2.89 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

Several brokerages recently commented on ABT. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 18th. Raymond James increased their price objective on shares of Abbott Laboratories from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, October 18th. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Barclays began coverage on Abbott Laboratories in a research note on Monday, October 15th. They issued an “overweight” rating and a $80.00 price target for the company. Finally, Morgan Stanley increased their price target on Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $75.22.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Further Reading: How to calculate the intrinsic value of a stock

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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