Huntington National Bank Has $50.25 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Huntington National Bank increased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 444,258 shares of the healthcare product maker’s stock after acquiring an additional 8,204 shares during the quarter. Huntington National Bank’s holdings in Abbott Laboratories were worth $50,250,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $2,373,461,000. Raymond James Financial Inc. acquired a new position in Abbott Laboratories during the fourth quarter valued at $635,056,000. State Street Corp boosted its position in Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the period. Jennison Associates LLC grew its stake in Abbott Laboratories by 22,372.2% during the 4th quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock valued at $135,886,000 after acquiring an additional 1,196,018 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Abbott Laboratories by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,764,061 shares of the healthcare product maker’s stock valued at $1,144,818,000 after purchasing an additional 1,180,040 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ABT shares. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Stifel Nicolaus upped their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. UBS Group boosted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI lifted their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Bank of America increased their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Trading Down 0.7 %

Abbott Laboratories stock opened at $131.71 on Wednesday. The firm has a market capitalization of $228.42 billion, a PE ratio of 17.22, a PEG ratio of 2.52 and a beta of 0.70. The business’s 50-day simple moving average is $130.74 and its 200-day simple moving average is $120.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Buying and Selling

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at $4,417,294.90. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 over the last three months. 0.46% of the stock is owned by corporate insiders.

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.