Park National Corp OH Sells 9,998 Shares of Abbott Laboratories $ABT

Key Points

• Park National Corp OH reduced its stake in Abbott Laboratories by 4.2%, now holding 227,790 shares worth approximately $30.98 million.
• Abbott Laboratories reported $1.26 earnings per share for the latest quarter, meeting estimates, with revenues increasing by 7.4% year-over-year.
• Research analysts have a consensus price target of $144.47 for Abbott shares, with 2 Strong Buy ratings and 16 Buy ratings issued.

Park National Corp OH reduced its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,790 shares of the healthcare product maker's stock after selling 9,998 shares during the quarter. Park National Corp OH's holdings in Abbott Laboratories were worth $30,982,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the 1st quarter valued at about $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $33,000. 75.18% of the stock is owned by institutional investors.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ABT shares. BTIG Research decreased their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Raymond James Financial decreased their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, July 18th. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price on the stock. Evercore ISI increased their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Trading Up 1.1%

NYSE ABT traded up $1.43 during mid-day trading on Tuesday, reaching $132.76. 5,400,392 shares of the stock were exchanged, compared to its average volume of 4,631,760. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a 50 day simple moving average of $130.36 and a 200-day simple moving average of $131.21. The stock has a market cap of $231.06 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.49 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

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.