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

Park National Corp OH lessened its stake in Abbott Laboratories (NYSE:ABT) by 4.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 227,790 shares of the healthcare product maker’s stock after selling 9,998 shares during the period. Park National Corp OH’s holdings in Abbott Laboratories were worth $30,982,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories during the first quarter worth about $30,000. JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC bought a new position in Abbott Laboratories during the first quarter worth about $33,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $133.92 on Friday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm has a 50 day moving average of $130.41 and a 200-day moving average of $131.32. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $233.08 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Abbott Laboratories’s revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.47.

Abbott Laboratories Company 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.