Beese Fulmer Investment Management Inc. Sells 1,051 Shares of Abbott Laboratories (NYSE:ABT)

Beese Fulmer Investment Management Inc. reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 94,573 shares of the healthcare product maker’s stock after selling 1,051 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Abbott Laboratories were worth $10,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Fairfield Bush & CO. bought a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $131,000. United Bank raised its position in Abbott Laboratories by 7.2% during the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after purchasing an additional 1,826 shares in the last quarter. Mackenzie Financial Corp raised its position in Abbott Laboratories by 1.9% during the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock valued at $96,257,000 after purchasing an additional 15,521 shares in the last quarter. Kinneret Advisory LLC raised its position in Abbott Laboratories by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after purchasing an additional 436 shares in the last quarter. Finally, Lumature Wealth Partners LLC raised its position in Abbott Laboratories by 636.2% during the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after purchasing an additional 1,915 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the business’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 in the company, valued at approximately $770,759,948.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the business’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 in the company, valued at approximately $770,759,948.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $6,829,785.81. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABT shares. Mizuho lifted their target price on Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. StockNews.com initiated coverage on Abbott Laboratories in a research report on Thursday, August 17th. They set a “buy” rating for the company. Wolfe Research upgraded Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a report on Friday, July 21st. Barclays lifted 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. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $112.00 price target on shares of Abbott Laboratories in a report on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.82.

Abbott Laboratories Stock Down 0.9 %

ABT stock traded down $0.91 on Friday, hitting $101.74. 8,303,319 shares of the company’s stock were exchanged, compared to its average volume of 4,914,443. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $115.83. The firm has a 50 day moving average price of $106.17 and a two-hundred day moving average price of $105.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a market cap of $176.56 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 4.59 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.03. The firm had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.71 billion. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 4.4 EPS for the current fiscal year.

Abbott Laboratories Company 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.