OLD National Bancorp IN Sells 5,114 Shares of Abbott Laboratories (NYSE:ABT)

OLD National Bancorp IN cut its stake in Abbott Laboratories (NYSE:ABT) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,102 shares of the healthcare product maker’s stock after selling 5,114 shares during the period. OLD National Bancorp IN’s holdings in Abbott Laboratories were worth $11,441,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Alliance Wealth Advisors LLC UT lifted its stake in Abbott Laboratories by 0.4% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after purchasing an additional 92 shares during the last quarter. Avion Wealth lifted its stake in Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after purchasing an additional 96 shares during the last quarter. Wynn Capital LLC lifted its stake in Abbott Laboratories by 2.9% during the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares during the last quarter. Berger Financial Group Inc lifted its stake in Abbott Laboratories by 3.0% during the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after purchasing an additional 99 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Abbott Laboratories by 0.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 19,280 shares of the healthcare product maker’s stock worth $2,122,000 after purchasing an additional 100 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

ABT stock traded down $1.05 on Friday, reaching $108.71. 5,415,999 shares of the company’s stock were exchanged, compared to its average volume of 6,049,857. The stock has a fifty day moving average of $104.94 and a 200-day moving average of $108.90. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The firm has a market cap of $189.12 billion, a PE ratio of 33.87, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Citigroup reduced their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Evercore ISI reduced their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.00.

Abbott Laboratories Company 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.