Marble Harbor Investment Counsel LLC Has $26.13 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Key Points

• Marble Harbor Investment Counsel LLC reduced its stake in Abbott Laboratories by 1.2%, resulting in ownership of 196,962 shares valued at approximately $26.1 million.
• Abbott Laboratories recently posted earnings of $1.26 per share for the last quarter, matching analyst expectations, with a revenue increase of 7.4% year-over-year to $11.14 billion.
• Multiple analysts have rated Abbott Laboratories positively, with an average price target of $144.47 and a consensus rating of "Moderate Buy."

Marble Harbor Investment Counsel LLC reduced its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,962 shares of the healthcare product maker's stock after selling 2,312 shares during the period. Abbott Laboratories makes up about 2.9% of Marble Harbor Investment Counsel LLC's holdings, making the stock its 10th largest holding. Marble Harbor Investment Counsel LLC's holdings in Abbott Laboratories were worth $26,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Redwood Park Advisors LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $25,000. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories during the first quarter worth about $28,000. Wormser Freres Gestion purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories in the first quarter valued at about $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ABT shares. Raymond James Financial reduced their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Piper Sandler restated an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Evercore ISI lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Trading Up 0.4%

ABT traded up $0.50 during mid-day trading on Tuesday, hitting $130.43. The stock had a trading volume of 2,014,346 shares, compared to its average volume of 6,905,979. The firm has a market capitalization of $226.92 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.41 and a beta of 0.70. Abbott Laboratories has a 1-year low of $107.11 and a 1-year high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock's fifty day simple moving average is $131.76 and its 200-day simple moving average is $130.72.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

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.