Burns J W & Co. Inc. NY Sells 1,844 Shares of Abbott Laboratories (NYSE:ABT)

Burns J W & Co. Inc. NY reduced its holdings in Abbott Laboratories (NYSE:ABT) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,423 shares of the healthcare product maker’s stock after selling 1,844 shares during the period. Burns J W & Co. Inc. NY’s holdings in Abbott Laboratories were worth $4,298,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Scissortail Wealth Management LLC bought a new stake in Abbott Laboratories in the first quarter valued at $1,475,747,000. Aspire Private Capital LLC bought a new stake in Abbott Laboratories in the first quarter valued at $16,271,874,000. Graham Capital Wealth Management LLC bought a new stake in Abbott Laboratories in the first quarter valued at $244,037,000. Altshuler Shaham Ltd bought a new stake in Abbott Laboratories in the fourth quarter valued at $28,000. Finally, Financial Gravity Asset Management Inc. grew its position in Abbott Laboratories by 134.5% in the first quarter. Financial Gravity Asset Management Inc. now owns 258 shares of the healthcare product maker’s stock valued at $316,000 after acquiring an additional 148 shares during the period. 73.70% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the sale, the director now owns 6,775,316 shares of the company’s stock, valued at $770,759,948.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the sale, the director now owns 6,775,316 shares of the company’s stock, valued at $770,759,948.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total value of $1,092,312.00. Following the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $6,829,785.81. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABT shares. Morgan Stanley restated an “equal weight” rating and set a $112.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Mizuho increased their target price on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Wolfe Research upgraded Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. StockNews.com started coverage on Abbott Laboratories in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Barclays raised their price target on Abbott Laboratories from $127.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.82.

Abbott Laboratories Trading Down 0.7 %

NYSE:ABT opened at $100.99 on Tuesday. Abbott Laboratories has a 1-year low of $93.25 and a 1-year high of $115.83. The business’s 50-day moving average price is $106.17 and its two-hundred day moving average price is $105.24. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $175.25 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 4.54 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. The firm had revenue of $9.98 billion for the quarter, compared to analyst estimates of $9.71 billion. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The company’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, equities analysts expect that Abbott Laboratories will post 4.4 earnings per share for the current year.

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 Established Pharmaceutical Products segment 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.