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

Huntington National Bank decreased its position in Abbott Laboratories (NYSE:ABT) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $31,000. Valued Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $32,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.6 %

Shares of NYSE ABT opened at $115.74 on Thursday. 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 stock has a market capitalization of $200.75 billion, a P/E ratio of 35.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1-year low of $96.20 and a 1-year high of $121.64. The business has a fifty day moving average price of $115.43 and a 200 day moving average price of $109.35.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. Equities research analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barclays upped their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler Companies started coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. UBS Group upped their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the 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 completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.