Huntington National Bank Sells 8,239 Shares of Abbott Laboratories (NYSE:ABT)

Huntington National Bank lowered its stake in Abbott Laboratories (NYSE:ABT) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 436,054 shares of the healthcare product maker’s stock after selling 8,239 shares during the quarter. Huntington National Bank’s holdings in Abbott Laboratories were worth $49,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories during the second quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the third quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories during the second quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its holdings in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Abbott Laboratories in the second quarter worth $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.6 %

ABT stock opened at $115.74 on Thursday. Abbott Laboratories has a fifty-two week low of $96.20 and a fifty-two week high of $121.64. The business’s 50-day moving average is $115.43 and its two-hundred day moving average is $109.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market cap of $200.75 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is 66.87%.

Insider Buying and Selling at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. This trade represents a 0.00 % 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. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of research reports. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Citigroup increased their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Morgan Stanley increased their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Mizuho increased their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $130.07.

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.