Abbott Laboratories (NYSE:ABT) Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,262 shares of the healthcare product maker’s stock after selling 1,236 shares during the quarter. Abbott Laboratories makes up 3.9% of Agate Pass Investment Management LLC’s holdings, making the stock its 4th biggest holding. Agate Pass Investment Management LLC’s holdings in Abbott Laboratories were worth $9,188,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC increased its stake in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at $4,417,294.90. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,278 shares of company stock worth $12,745,859. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $132.80 on Friday. The business has a 50-day simple moving average of $130.30 and a 200 day simple moving average of $125.06. The firm has a market capitalization of $231.04 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. On average, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Piper Sandler restated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Royal Bank of Canada increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Raymond James lifted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

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 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.