Abbott Laboratories (NYSE:ABT) Shares Sold by Park National Corp OH

Park National Corp OH trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 3.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 500,135 shares of the healthcare product maker’s stock after selling 16,833 shares during the period. Abbott Laboratories accounts for about 2.9% of Park National Corp OH’s holdings, making the stock its 4th biggest holding. Park National Corp OH’s holdings in Abbott Laboratories were worth $54,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Abbot Financial Management Inc. increased its position in Abbott Laboratories by 0.8% during the second quarter. Abbot Financial Management Inc. now owns 12,986 shares of the healthcare product maker’s stock worth $1,187,000 after purchasing an additional 100 shares during the last quarter. Providence Wealth Advisors LLC increased its position in Abbott Laboratories by 3.4% during the second quarter. Providence Wealth Advisors LLC now owns 3,020 shares of the healthcare product maker’s stock worth $276,000 after purchasing an additional 100 shares during the last quarter. Focused Wealth Management Inc increased its position in Abbott Laboratories by 12.1% during the second quarter. Focused Wealth Management Inc now owns 947 shares of the healthcare product maker’s stock worth $87,000 after purchasing an additional 102 shares during the last quarter. Baxter Bros Inc. increased its position in Abbott Laboratories by 2.0% during the second quarter. Baxter Bros Inc. now owns 5,162 shares of the healthcare product maker’s stock worth $472,000 after purchasing an additional 102 shares during the last quarter. Finally, Magnus Financial Group LLC increased its position in Abbott Laboratories by 1.1% during the second quarter. Magnus Financial Group LLC now owns 10,220 shares of the healthcare product maker’s stock worth $934,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.

In related news, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $98.00, for a total value of $2,254,784.00. Following the completion of the transaction, the senior vice president now owns 96,899 shares in the company, valued at $9,496,102. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 6,844 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $99.80, for a total transaction of $683,031.20. Following the completion of the transaction, the director now owns 40,043 shares of the company’s stock, valued at approximately $3,996,291.40. The disclosure for this sale can be found here. In the last three months, insiders sold 114,771 shares of company stock valued at $12,220,943. Insiders own 1.70% of the company’s stock.

Shares of NYSE ABT traded down $0.19 during midday trading on Thursday, hitting $108.64. The company’s stock had a trading volume of 7,240,841 shares, compared to its average volume of 7,358,413. The business’s fifty day simple moving average is $104.30 and its two-hundred day simple moving average is $93.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.57 and a quick ratio of 1.10. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19. The firm has a market capitalization of $192.35 billion, a price-to-earnings ratio of 62.80, a price-to-earnings-growth ratio of 2.88 and a beta of 0.96.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 3.27 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Wednesday, October 14th. Abbott Laboratories’s payout ratio is 44.44%.

Several research firms recently issued reports on ABT. Credit Suisse Group raised their price objective on shares of Abbott Laboratories from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Wolfe Research began coverage on shares of Abbott Laboratories in a research report on Friday, September 11th. They set an “outperform” rating and a $124.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Argus increased their target price on shares of Abbott Laboratories from $110.00 to $125.00 in a research note on Thursday, July 23rd. Finally, Morgan Stanley increased their target price on shares of Abbott Laboratories from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Hold” and an average target price of $111.19.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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