Park National Corp OH Trims Holdings in Abbott Laboratories (NYSE:ABT)

Park National Corp OH cut its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,965 shares of the healthcare product maker's stock after selling 11,746 shares during the quarter. Park National Corp OH's holdings in Abbott Laboratories were worth $29,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lantz Financial LLC lifted its stake in shares of Abbott Laboratories by 5.2% during the 2nd quarter. Lantz Financial LLC now owns 5,737 shares of the healthcare product maker's stock worth $596,000 after acquiring an additional 281 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $116,000. PFG Investments LLC increased its stake in Abbott Laboratories by 22.6% in the 2nd quarter. PFG Investments LLC now owns 16,588 shares of the healthcare product maker's stock worth $1,724,000 after buying an additional 3,063 shares during the period. Prudential PLC lifted its holdings in Abbott Laboratories by 11.8% during the 2nd quarter. Prudential PLC now owns 26,844 shares of the healthcare product maker's stock valued at $2,789,000 after buying an additional 2,830 shares in the last quarter. Finally, Liberty Wealth Management LLC boosted its position in Abbott Laboratories by 190.9% in the 2nd quarter. Liberty Wealth Management LLC now owns 8,790 shares of the healthcare product maker's stock valued at $913,000 after buying an additional 5,768 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the subject of several research analyst reports. Piper Sandler lifted their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. UBS Group lifted their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $131.57.

Abbott Laboratories Stock Up 0.7 %

NYSE ABT traded up $0.78 on Wednesday, hitting $114.18. The stock had a trading volume of 4,455,204 shares, compared to its average volume of 4,755,701. 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 cap of $198.04 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The business's fifty day moving average price is $115.43 and its 200 day moving average price is $112.38.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS 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 during the quarter, compared to analysts' expectations of $10.55 billion. During the same period last year, the business posted $1.14 earnings per share. The firm's revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.07%. Abbott Laboratories's dividend payout ratio is presently 71.73%.

Abbott Laboratories 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.