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

OLD National Bancorp IN lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 4.4% in the second quarter, HoldingsChannel.com reports. 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 reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. Signature Resources Capital Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter valued at approximately $30,000. Finally, True Wealth Design LLC lifted its stake in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.0 %

Shares of ABT traded down $1.05 during trading hours on Friday, hitting $108.71. 5,415,999 shares of the stock were exchanged, compared to its average volume of 6,049,857. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11. The business has a 50-day moving average of $104.94 and a 200-day moving average of $108.90. The firm has a market capitalization of $189.12 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the prior year, the company posted $1.08 earnings per share. Abbott Laboratories’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts expect that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABT. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Citigroup dropped their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Finally, Barclays raised their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $121.00.

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.