Marble Harbor Investment Counsel LLC Has $26.40 Million Holdings in Abbott Laboratories $ABT

Marble Harbor Investment Counsel LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 194,129 shares of the healthcare product maker’s stock after selling 2,833 shares during the period. Abbott Laboratories accounts for about 2.9% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 8th biggest position. Marble Harbor Investment Counsel LLC’s holdings in Abbott Laboratories were worth $26,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. IMG Wealth Management Inc. grew its position in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $33,000. Accent Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $38,000. Finally, Curio Wealth LLC lifted its holdings in Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after acquiring an additional 305 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABT shares. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Daiwa Capital Markets raised their price target on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Up 0.9%

Abbott Laboratories stock opened at $126.98 on Wednesday. The firm has a 50 day simple moving average of $130.56 and a 200 day simple moving average of $131.37. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market capitalization of $220.80 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

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.