Park National Corp OH Has $25,125,000 Position in Abbott Laboratories (ABT)
Park National Corp OH raised its position in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 594,098 shares of the healthcare product maker’s stock after buying an additional 3,288 shares during the period. Abbott Laboratories accounts for approximately 1.6% of Park National Corp OH’s holdings, making the stock its 20th largest position. Park National Corp OH’s holdings in Abbott Laboratories were worth $25,125,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of ABT. Jarislowsky Fraser Ltd boosted its position in shares of Abbott Laboratories by 780.3% in the second quarter. Jarislowsky Fraser Ltd now owns 18,800,322 shares of the healthcare product maker’s stock worth $1,060,533,000 after buying an additional 16,664,605 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Abbott Laboratories by 16.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,209,595 shares of the healthcare product maker’s stock valued at $1,423,400,000 after buying an additional 5,115,232 shares during the period. Flossbach Von Storch AG boosted its position in Abbott Laboratories by 51.5% in the second quarter. Flossbach Von Storch AG now owns 14,514,773 shares of the healthcare product maker’s stock valued at $570,576,000 after buying an additional 4,936,655 shares during the period. Westwood Holdings Group Inc. purchased a new position in Abbott Laboratories during the second quarter valued at $162,264,000. Finally, Old Mutual Global Investors UK Ltd. boosted its position in Abbott Laboratories by 34,061.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,998,999 shares of the healthcare product maker’s stock valued at $117,890,000 after buying an additional 2,990,220 shares during the period. Hedge funds and other institutional investors own 72.48% of the company’s stock.
Abbott Laboratories (NYSE:ABT) traded down 1.36% during mid-day trading on Friday, reaching $39.84. 7,015,102 shares of the company were exchanged. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38. The stock has a 50 day moving average of $40.87 and a 200-day moving average of $40.96. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 43.49 and a beta of 0.94.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 19th. The healthcare product maker reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 6.61% and a return on equity of 15.46%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm posted $0.54 EPS. Abbott Laboratories’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post $2.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, October 14th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.61%. The ex-dividend date was Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 114.29%.
Several research firms recently weighed in on ABT. Zacks Investment Research upgraded shares of Abbott Laboratories from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Bank of America Corp. restated a “buy” rating on shares of Abbott Laboratories in a report on Monday, September 19th. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price target on shares of Abbott Laboratories in a report on Monday, September 19th. Jefferies Group cut their price target on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, September 13th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.02.
In other news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the sale, the senior vice president now owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sally E. Blount purchased 5,100 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were bought at an average cost of $39.24 per share, for a total transaction of $200,124.00. Following the acquisition, the director now owns 20,143 shares in the company, valued at $790,411.32. The disclosure for this purchase can be found here. Insiders own 0.26% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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