Agate Pass Investment Management LLC Sells 363 Shares of Abbott Laboratories (NYSE:ABT)

Agate Pass Investment Management LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,453 shares of the healthcare product maker’s stock after selling 363 shares during the quarter. Abbott Laboratories accounts for about 4.0% of Agate Pass Investment Management LLC’s portfolio, making the stock its 5th biggest holding. Agate Pass Investment Management LLC’s holdings in Abbott Laboratories were worth $8,032,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Boltwood Capital Management boosted its position in shares of Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after buying an additional 89 shares during the period. Atwood & Palmer Inc. lifted its stake in Abbott Laboratories by 6.5% in the 3rd quarter. Atwood & Palmer Inc. now owns 1,478 shares of the healthcare product maker’s stock valued at $169,000 after acquiring an additional 90 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in Abbott Laboratories by 2.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 4,045 shares of the healthcare product maker’s stock worth $461,000 after acquiring an additional 91 shares during the last quarter. Hanson & Doremus Investment Management grew its stake in shares of Abbott Laboratories by 0.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 11,165 shares of the healthcare product maker’s stock worth $1,160,000 after acquiring an additional 92 shares in the last quarter. Finally, Encompass More Asset Management raised its holdings in shares of Abbott Laboratories by 3.3% in the second quarter. Encompass More Asset Management now owns 3,002 shares of the healthcare product maker’s stock valued at $312,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.3 %

Shares of Abbott Laboratories stock opened at $115.62 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The firm has a 50-day moving average of $112.93 and a 200-day moving average of $108.26. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market cap of $201.14 billion, a PE ratio of 36.02, a PEG ratio of 2.86 and a beta of 0.72.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ABT shares. Royal Bank of Canada increased their price objective on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup boosted their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI increased their price objective on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Finally, Edward Jones cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $125.15.

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 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.