As Abbott Laboratories (ABT) Shares Rose, Shareholder Cohen & Steers Has Decreased Position by $1.75 Million; Fmr Trimmed Position in Phillips 66 (PSX) as Stock Value Rose

August 12, 2018 - By Mark Babin

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Fmr Llc decreased its stake in Phillips 66 (PSX) by 16.83% based on its latest 2018Q1 regulatory filing with the SEC. Fmr Llc sold 2.67 million shares as the company’s stock rose 24.95% while stock markets declined. The institutional investor held 13.21M shares of the integrated oil company at the end of 2018Q1, valued at $1.27B, down from 15.88 million at the end of the previous reported quarter. Fmr Llc who had been investing in Phillips 66 for a number of months, seems to be less bullish one the $56.91 billion market cap company. The stock increased 0.34% or $0.41 during the last trading session, reaching $122.59. About 1.85M shares traded. Phillips 66 (NYSE:PSX) has risen 49.32% since August 12, 2017 and is uptrending. It has outperformed by 36.75% the S&P500. Some Historical PSX News: 22/05/2018 – Dennis K Burke Becomes Northeast Distributor for Phillips 66/Kendall Lubricants; 27/04/2018 – Phillips 66: 1Q Refining Net Income $91 Million; 16/05/2018 – MOODY’S: SPONSORED MLPS TO CONTINUE BORROWING, BUT AT COST TO SPONSORS’ CREDIT QUALITY; 03/04/2018 – PHILLIPS 66 ALLIANCE REFINERY COMPLETES HYDROTREATER RESTART; 27/04/2018 – PHILLIPS 66 PSX.N SAYS NEEDS NEW PIPELINE CAPACITY SERVING THE PERMIAN BASIN – CONF CALL; 11/04/2018 – PHILLIPS 66 JV BORGER TEXAS REFINERY SHUTS GASOLINE UNITS, HYDROTREATER; 07/03/2018 PHILLIPS 66 PSX.N : CREDIT SUISSE ASSUMES WITH NEUTRAL RATING; TARGET PRICE $110; 17/04/2018 – PHILLIPS 66 JV BORGER TEXAS REFINERY GASOLINE UNITS EXPECTED BACK IN PRODUCTION EARLY NEXT WEEK; 11/04/2018 – PHILLIPS 66 BORGER REFINERY MAY RESTART GASOLINE UNITS, HYDROTREATER EARLY NEXT WEEK; 16/05/2018 – Phillips 66 Reports Emissions at Borger Refinery in Texas

Cohen & Steers Inc decreased its stake in Abbott Laboratories (ABT) by 11.12% based on its latest 2018Q1 regulatory filing with the SEC. Cohen & Steers Inc sold 29,591 shares as the company’s stock rose 3.04% while stock markets declined. The institutional investor held 236,540 shares of the major pharmaceuticals company at the end of 2018Q1, valued at $14.17M, down from 266,131 at the end of the previous reported quarter. Cohen & Steers Inc who had been investing in Abbott Laboratories for a number of months, seems to be less bullish one the $112.33B market cap company. The stock decreased 0.94% or $0.61 during the last trading session, reaching $64.03. About 3.84 million shares traded. Abbott Laboratories (NYSE:ABT) has risen 41.91% since August 12, 2017 and is uptrending. It has outperformed by 29.34% the S&P500. Some Historical ABT News: 19/03/2018 – Abbott’s MitraClip Therapy Receives National Reimbursement in Japan to Treat Patients with Mitral Regurgitation; 20/04/2018 – Abbott Bond Trading 2x Average; Clients Net Sellers; 11/03/2018 – Abbott Labs: Data to Be Submitted to FDA to Support Consideration of Long-Term Indication for HeartMate 3; 18/05/2018 – ABBOTT SAYS UNCLEAR IF FATHER KNEW SON HAD TAKEN THE TWO WEAPONS; 13/05/2018 – Carina Lorenz, Timothy Abbott; 28/03/2018 – Abbott has invested an undisclosed amount in Bigfoot Biomedical, a start-up creating diabetes care devices and systems; 29/03/2018 – Abbott Initiates Trial to Evaluate Improved Survival And Outcomes with the CardioMEMS Monitor; 11/04/2018 – Abbott Initiates Groundbreaking Study to Assess Superiority of High-Resolution Imaging Versus Standard-of-Care Angiography in; 03/05/2018 – ABBOTT LABORATORIES – EXPECTS ADVISOR HD GRID COMMERCIAL USE TO BEGIN ACROSS U.S. IN COMING MONTHS; 23/03/2018 – Abbott’s Alere resolves U.S. diagnostic device probe for $33.2 mln

Investors sentiment decreased to 0.83 in 2018 Q1. Its down 0.08, from 0.91 in 2017Q4. It is negative, as 44 investors sold ABT shares while 606 reduced holdings. 126 funds opened positions while 411 raised stakes. 1.22 billion shares or 0.54% more from 1.22 billion shares in 2017Q4 were reported. Intersect Capital Ltd Liability holds 5,015 shares or 0.16% of its portfolio. Peoples Financial Services Corporation has 20,428 shares for 0.7% of their portfolio. Farmers And Merchants Investments reported 133,115 shares stake. Pnc Financial Ser Gp invested in 5.21M shares or 0.31% of the stock. Meag Munich Ergo Kapitalanlagegesellschaft Mbh has invested 0.38% in Abbott Laboratories (NYSE:ABT). Partner Fund Management LP accumulated 1.76 million shares. Palisades Hudson Asset Ltd Partnership reported 7,629 shares. Exxonmobil Inc Tx holds 266,468 shares. Greylin Investment Mangement Incorporated owns 0.6% invested in Abbott Laboratories (NYSE:ABT) for 46,241 shares. Bennicas & Assoc reported 18,193 shares or 0.97% of all its holdings. Moreover, Mufg Americas Hldgs has 0.63% invested in Abbott Laboratories (NYSE:ABT) for 334,023 shares. Blackhill Capital Inc has invested 4.08% in Abbott Laboratories (NYSE:ABT). Ferguson Wellman Cap Mgmt Inc owns 0.12% invested in Abbott Laboratories (NYSE:ABT) for 55,859 shares. Aviva Public Ltd holds 0.32% of its portfolio in Abbott Laboratories (NYSE:ABT) for 860,979 shares. First Financial Corporation In invested 1.18% of its portfolio in Abbott Laboratories (NYSE:ABT).

Cohen & Steers Inc, which manages about $32.69 billion US Long portfolio, upped its stake in First Trust New Opportunites Mlp (FPL) by 33,417 shares to 354,379 shares, valued at $3.48M in 2018Q1, according to the filing. It also increased its holding in Petroleo Brasileiro S.A. (NYSE:PBR) by 53,267 shares in the quarter, for a total of 124,526 shares, and has risen its stake in Eaton Vance T/A Global Dividend Income (ETG).

Since February 16, 2018, it had 1 insider buy, and 21 sales for $8.90 million activity. Watkin Jared sold $17,609 worth of Abbott Laboratories (NYSE:ABT) on Friday, February 16. STARKS DANIEL J bought 40,037 shares worth $2.43 million. Shares for $667,804 were sold by Fussell Stephen R. Bracken Sharon J sold $126,559 worth of stock or 2,100 shares. PEDERSON MICHAEL J sold $27,213 worth of stock or 459 shares. Funck Robert E sold $71,970 worth of stock or 1,220 shares.

More news for Abbott Laboratories (NYSE:ABT) were recently published by: Seekingalpha.com, which released: “House repeals tax on medical devices” on July 25, 2018. Seekingalpha.com‘s article titled: “If AbbVie Is A Buy, What About Abbott?” and published on July 20, 2018 is yet another important article.

Analysts await Abbott Laboratories (NYSE:ABT) to report earnings on October, 17. They expect $0.74 earnings per share, up 12.12% or $0.08 from last year’s $0.66 per share. ABT’s profit will be $1.30B for 21.63 P/E if the $0.74 EPS becomes a reality. After $0.73 actual earnings per share reported by Abbott Laboratories for the previous quarter, Wall Street now forecasts 1.37% EPS growth.

Among 26 analysts covering Abbott Laboratories (NYSE:ABT), 19 have Buy rating, 0 Sell and 7 Hold. Therefore 73% are positive. Abbott Laboratories had 109 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of Abbott Laboratories (NYSE:ABT) earned “Hold” rating by BMO Capital Markets on Thursday, July 20. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, March 1. Argus Research maintained Abbott Laboratories (NYSE:ABT) on Friday, July 21 with “Buy” rating. The company was maintained on Thursday, August 31 by BMO Capital Markets. The firm has “Buy” rating by BTIG Research given on Saturday, August 29. Barclays Capital maintained Abbott Laboratories (NYSE:ABT) on Thursday, January 25 with “Overweight” rating. The stock has “Buy” rating by Cowen & Co on Monday, April 17. Goldman Sachs downgraded the stock to “Neutral” rating in Friday, November 13 report. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, July 23. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Monday, January 4 report.

Fmr Llc, which manages about $842.35B US Long portfolio, upped its stake in Centennial Resource Dev Inc by 280,288 shares to 30.92M shares, valued at $567.33 million in 2018Q1, according to the filing. It also increased its holding in Meridian Bancorp Inc Md (NASDAQ:EBSB) by 1.87 million shares in the quarter, for a total of 4.48M shares, and has risen its stake in Texas Pac Ld Tr (NYSE:TPL).

Analysts await Phillips 66 (NYSE:PSX) to report earnings on October, 26. They expect $2.17 earnings per share, up 30.72% or $0.51 from last year’s $1.66 per share. PSX’s profit will be $1.01B for 14.12 P/E if the $2.17 EPS becomes a reality. After $2.80 actual earnings per share reported by Phillips 66 for the previous quarter, Wall Street now forecasts -22.50% negative EPS growth.

Since May 16, 2018, it had 0 insider purchases, and 1 sale for $828,000 activity.

Among 20 analysts covering Phillips 66 (NYSE:PSX), 9 have Buy rating, 2 Sell and 9 Hold. Therefore 45% are positive. Phillips 66 had 85 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was downgraded by Credit Suisse to “Neutral” on Monday, November 2. Barclays Capital downgraded it to “Equal-Weight” rating and $86 target in Wednesday, July 13 report. The rating was maintained by Jefferies on Thursday, June 1 with “Hold”. Oppenheimer maintained Phillips 66 (NYSE:PSX) rating on Friday, September 18. Oppenheimer has “Outperform” rating and $95 target. The company was maintained on Monday, April 23 by Piper Jaffray. JP Morgan maintained it with “Neutral” rating and $91 target in Monday, November 2 report. The stock has “Hold” rating by Jefferies on Tuesday, August 23. The rating was maintained by Scotia Capital on Thursday, December 21 with “Buy”. The firm has “Neutral” rating given on Monday, April 30 by Credit Suisse. maintained Phillips 66 (NYSE:PSX) rating on Monday, October 10. has “Equal-Weight” rating and $84 target.

More notable recent Phillips 66 (NYSE:PSX) news were published by: Seekingalpha.com which released: “Only a matter of time before Venezuela loses Citgo, analysts say” on August 10, 2018, also Seekingalpha.com with their article: “Phillips 66 (PSX) CEO Greg Garland on Q2 2018 Results – Earnings Call Transcript” published on July 27, 2018, Seekingalpha.com published: “Phillips 66 2018 Q2 – Results – Earnings Call Slides” on July 27, 2018. More interesting news about Phillips 66 (NYSE:PSX) were released by: Seekingalpha.com and their article: “Phillips 66 Has More Value In Store” published on July 30, 2018 as well as Seekingalpha.com‘s news article titled: “Phillips 66: Sell Now, Buy Later” with publication date: July 22, 2018.

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