Park National Corp OH Lowers Stake in Abbott Laboratories $ABT

Key Points

• Park National Corp OH cut its Abbott Laboratories stake by 10.2% in the second quarter, selling 17,000 shares and retaining 150,182 shares valued at approximately $13.6 million.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $118.67, despite several firms lowering their targets.
• Abbott exceeded quarterly earnings and revenue estimates, reporting $1.31 in EPS and $12.59 billion in revenue, while maintaining growth prospects in pharmaceuticals, medical devices and digital health; it also pays a quarterly dividend of $0.63.

Park National Corp OH decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 10.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,182 shares of the healthcare product maker's stock after selling 17,000 shares during the quarter. Park National Corp OH's holdings in Abbott Laboratories were worth $13,628,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth about $25,000. Purpose Unlimited Inc. purchased a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. purchased a new position in Abbott Laboratories during the 4th quarter valued at about $26,000. Finally, Abound Financial LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at about $26,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on ABT shares. Evercore reduced their price target on shares of Abbott Laboratories from $134.00 to $120.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. UBS Group dropped their price objective on shares of Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. Piper Sandler reaffirmed an "overweight" rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Royal Bank Of Canada reiterated an "outperform" rating and set a $130.00 target price on shares of Abbott Laboratories in a report on Friday, July 17th. Finally, TD Cowen restated a "buy" rating and issued a $115.00 price target on shares of Abbott Laboratories in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $118.67.

Key Headlines Impacting Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Alphabet AI partnership expands Abbott’s growth opportunity: Abbott and Alphabet announced a multiyear collaboration integrating data from Abbott’s over-the-counter Lingo continuous glucose monitor into the Google Health app. Google’s AI Health Coach is expected to use the data to provide personalized recommendations, potentially increasing Lingo adoption and strengthening Abbott’s position in consumer digital health. Can Abbott Laboratories’ Lingo Partnership With Alphabet Unlock a New Era of AI-Powered Health?
• Positive Sentiment: Wolfe Research upgraded ABT to Outperform: The firm raised its rating from “Peer Perform” and set a $130 price target, implying substantial upside from recent trading levels. The upgrade indicates improving analyst confidence in Abbott’s earnings durability and growth prospects.
• Positive Sentiment: Established Pharmaceuticals remains a growth driver: Abbott’s Established Pharmaceutical Products division is benefiting from emerging-market demand, a broad branded-generics portfolio and biosimilar opportunities. This provides diversification beyond the company’s medical-device businesses. What’s Backing Abbott’s Established Pharmaceuticals Division Growth
• Neutral Sentiment: Recent trading strength reflects broad investor support: Abbott outperformed some medical-product peers during a recent strong market session, while bullish commentary has highlighted the company’s diversified portfolio and long-term growth potential. Abbott Laboratories Stock Outperforms Competitors on Strong Trading Day
• Negative Sentiment: Valuation remains a potential constraint: With a forward-looking earnings multiple above 36 and the stock already well above its recent moving averages, further gains may require continued earnings execution and evidence that newer initiatives such as Lingo can materially contribute to revenue.

Abbott Laboratories Stock Performance

Shares of ABT opened at $111.27 on Friday. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The stock has a market capitalization of $192.53 billion, a PE ratio of 36.01, a PEG ratio of 2.15 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The stock has a 50-day simple moving average of $97.67 and a 200-day simple moving average of $99.83.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.03. The firm had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. On average, analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. Abbott Laboratories's dividend payout ratio is currently 81.55%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

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