Agate Pass Investment Management LLC Has $7.36 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Agate Pass Investment Management LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,816 shares of the healthcare product maker’s stock after selling 159 shares during the period. Abbott Laboratories accounts for 3.9% of Agate Pass Investment Management LLC’s portfolio, making the stock its 6th largest holding. Agate Pass Investment Management LLC’s holdings in Abbott Laboratories were worth $7,358,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ABT. Signature Resources Capital Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, True Wealth Design LLC grew its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ABT. Barclays lifted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Evercore ISI lowered their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Citigroup reduced their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Abbott Laboratories Stock Up 0.4 %

ABT traded up $0.44 during trading on Tuesday, hitting $108.24. The company had a trading volume of 4,911,496 shares, compared to its average volume of 6,034,481. The company has a market capitalization of $188.30 billion, a PE ratio of 33.75, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm’s 50-day moving average price is $105.04 and its 200 day moving average price is $108.81. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. As a group, equities analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.03%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

About Abbott Laboratories

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.