Abbott Laboratories (NYSE:ABT) Stake Cut by Park National Corp OH

Park National Corp OH decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,788 shares of the healthcare product maker's stock after selling 22,177 shares during the quarter. Abbott Laboratories accounts for approximately 1.2% of Park National Corp OH's holdings, making the stock its 26th largest position. Park National Corp OH's holdings in Abbott Laboratories were worth $31,543,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC boosted its holdings in shares of Abbott Laboratories by 78.4% in the 4th 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 acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on ABT. Morgan Stanley lifted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Wall Street Zen lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Raymond James boosted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada boosted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $142.59.

Insider Activity

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

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded up $0.83 during trading on Friday, hitting $133.68. The stock had a trading volume of 14,235,633 shares, compared to its average volume of 6,164,763. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market cap of $232.58 billion, a P/E ratio of 17.47, a PEG ratio of 2.52 and a beta of 0.74. The business has a fifty day moving average of $130.46 and a two-hundred day moving average of $125.17. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

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.