Huntington National Bank Has $59.96 Million Stake in Abbott Laboratories (NYSE:ABT)


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Huntington National Bank lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,358 shares of the healthcare product maker’s stock after selling 11,688 shares during the quarter. Huntington National Bank’s holdings in Abbott Laboratories were worth $59,963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Norges Bank purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $1,881,512,000. FMR LLC raised its stake in Abbott Laboratories by 20.3% in the 4th quarter. FMR LLC now owns 18,139,806 shares of the healthcare product maker’s stock valued at $1,986,127,000 after acquiring an additional 3,058,593 shares during the period. Morgan Stanley lifted its holdings in Abbott Laboratories by 5.2% during the fourth quarter. Morgan Stanley now owns 26,687,412 shares of the healthcare product maker’s stock valued at $2,922,006,000 after purchasing an additional 1,316,343 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Abbott Laboratories by 56.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,949,172 shares of the healthcare product maker’s stock worth $321,943,000 after purchasing an additional 1,067,460 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Abbott Laboratories by 26,166.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 993,387 shares of the healthcare product maker’s stock worth $108,766,000 after purchasing an additional 989,605 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Shares of Abbott Laboratories stock traded up $0.08 on Monday, reaching $120.98. The company’s stock had a trading volume of 16,274 shares, compared to its average volume of 5,133,817. Abbott Laboratories has a 52 week low of $83.52 and a 52 week high of $128.54. The firm’s fifty day simple moving average is $119.68 and its two-hundred day simple moving average is $113.32. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $214.32 billion, a price-to-earnings ratio of 63.97, a P/E/G ratio of 2.06 and a beta of 0.83.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Tuesday, January 26th. The healthcare product maker reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10. The company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $9.94 billion. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. Abbott Laboratories’s revenue was up 28.7% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 3.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.49%. Abbott Laboratories’s dividend payout ratio (DPR) is 55.56%.

In other Abbott Laboratories news, EVP Mary K. Moreland sold 505 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $128.49, for a total transaction of $64,887.45. Following the completion of the sale, the executive vice president now directly owns 63,878 shares in the company, valued at approximately $8,207,684.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joseph J. Manning sold 18,750 shares of the stock in a transaction that occurred on Monday, February 1st. The stock was sold at an average price of $122.79, for a total transaction of $2,302,312.50. Following the completion of the transaction, the senior vice president now owns 81,561 shares in the company, valued at approximately $10,014,875.19. The disclosure for this sale can be found here. Insiders sold 27,476 shares of company stock worth $3,366,543 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

A number of brokerages have issued reports on ABT. Credit Suisse Group boosted their target price on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 28th. SVB Leerink upped their price target on shares of Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research report on Thursday, January 28th. BTIG Research upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, January 28th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Tuesday, February 2nd. Finally, Raymond James raised their target price on Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, March 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $122.47.

About Abbott Laboratories

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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