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

Huntington National Bank reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in shares of Abbott Laboratories by 19.5% in the 1st quarter. William Blair Investment Management LLC now owns 114,662 shares of the healthcare product maker's stock valued at $13,032,000 after acquiring an additional 18,711 shares during the last quarter. Entropy Technologies LP acquired a new stake in Abbott Laboratories in the first quarter valued at $806,000. Forum Financial Management LP boosted its holdings in Abbott Laboratories by 0.6% in the first quarter. Forum Financial Management LP now owns 61,313 shares of the healthcare product maker's stock valued at $6,969,000 after acquiring an additional 350 shares during the last quarter. Gratus Wealth Advisors LLC raised its stake in Abbott Laboratories by 18.6% during the first quarter. Gratus Wealth Advisors LLC now owns 12,531 shares of the healthcare product maker's stock worth $1,319,000 after buying an additional 1,961 shares during the last quarter. Finally, Windsor Advisory Group LLC boosted its position in Abbott Laboratories by 8.3% during the first quarter. Windsor Advisory Group LLC now owns 2,269 shares of the healthcare product maker's stock valued at $258,000 after acquiring an additional 173 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ABT has been the topic of several research analyst reports. Morgan Stanley increased their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. UBS Group boosted their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Mizuho raised their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Jefferies Financial Group increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a research note on Thursday, October 17th. Finally, Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $130.07.

Abbott Laboratories Trading Down 0.1 %

Shares of Abbott Laboratories stock traded down $0.14 during trading on Thursday, reaching $115.60. 1,322,344 shares of the stock were exchanged, compared to its average volume of 5,684,698. Abbott Laboratories has a 1 year low of $96.92 and a 1 year high of $121.64. The firm has a market cap of $200.50 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock's fifty day moving average is $115.45 and its 200 day moving average is $109.39.

Abbott Laboratories (NYSE:ABT - Get Free Report) 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. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period last year, the company earned $1.14 EPS. The business's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories's dividend payout ratio is currently 66.87%.

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.