Portfolio Rebalancing
Park National Corp Rebalances Portfolio, Trimming Stakes in Abbott, Deere, and Other Majors
Key Points
For Abbott Laboratories, Park National Corp OH held 167,182 shares after selling 43,191 shares, and the article notes Abbott’s quarterly dividend details: $0.63 per share paid Monday, Aug. 17, with a record date of Wednesday, July 15 (ex-dividend date described in the filing).
For Monolithic Power Systems (MPWR), Park National Corp OH’s position is described as very small relative to its portfolio—0.06%—with the fund owning 28,114 shares worth about $30,738,000 after selling 13,492 shares.
For Analog Devices (ADI), the article specifies the fund’s relative ranking and weight: ADI was about 1.7% of Park National Corp OH’s holdings and the stock was the fund’s 10th largest position, with 174,367 shares held after selling 14,568 shares (worth about $55,473,000).
For Deere & Company (DE), the article includes the dividend schedule: Park National Corp OH’s filing period is accompanied by Deere’s quarterly dividend of $1.62 per share, payable Monday, Aug. 10, with investors of record on Tuesday, June 30 (and an ex-dividend date also noted).
For SLB Limited (SLB), beyond the 13F changes, the article reports company-insider selling: Director La Chevardiere Patrick De sold 2,000 shares at an average price of $54.33 (total $108,660), and EVP Steve Matthew Gassen sold 53,379 shares at an average price of $56.18 (total $2,998,832.22).
Park National Corp of Ohio quietly trimmed its exposure to some of Wall Street's biggest names in the first quarter of 2026, cutting its Abbott Laboratories stake by 20.5% and slashing Monolithic Power Systems by 32.4%, according to recent SEC filings WatchlistNews. The Ohio-based bank also reduced its positions in Analog Devices, Deere & Company, and SLB Limited, signaling a broad portfolio rebalancing rather than a targeted bet against any one sector.
The moves follow Park National's February 2026 merger with First Citizens Bancshares, which added over $2.7 billion in deposits to the bank's balance sheet. CIO Brad Zellar has described the sell-downs as "selling some of what's performing well" — a "counterintuitive but necessary" strategy to realign the portfolio after a strong 2025 market rally.
Abbott and MPWR Take the Biggest Haircuts
Park National sold 43,191 Abbott shares, leaving it with 167,182 shares of the healthcare giant WatchlistNews. Abbott recently declared its 410th consecutive quarterly dividend at $0.63 per share, payable August 17 to shareholders of record on July 15. Despite Park's exit, Abbott's long dividend streak has made it a classic income holding — a status that analysts say may attract retail buyers looking for a rare entry point.
The Monolithic Power Systems cut was even sharper. Park National sold 13,492 shares, leaving a tiny position of 28,114 shares worth roughly $30.7 million — just 0.06% of the fund's portfolio TickerReport. The timing is notable: MPWR disclosed in February that certain prior financial statements could no longer be relied upon, triggering a restatement process. That governance overhang likely pushed institutional holders like Park National toward the exit.
Analog Devices Trimmed but Stays a Top-Ten Holding
Park National cut its Analog Devices stake by 7.7%, selling 14,568 shares and ending the quarter with 174,367 shares worth about $55.5 million TickerReport. ADI remains the fund's 10th largest position at roughly 1.7% of total holdings. That suggests the trim was about managing weight, not walking away from the semiconductor name entirely.
Analysts still rate ADI a "Moderate Buy" with a price target of $432.71, according to MarketBeat. The consensus view is that Park National's sell-down reflects asset allocation discipline — not a bearish call on ADI's "Intelligent Edge" chip business, which posted a 37.2% year-over-year revenue surge under CEO Vincent Roche.
Deere Dividend Holds Steady as Park Cuts 27%
Park National reduced its Deere & Company position by 27.3% during the quarter. Even so, Deere's board declared a quarterly dividend of $1.62 per share, payable August 10 to shareholders of record on June 30 PR Newswire. The steady payout signals that Deere remains a reliable cash generator even as growth-focused institutional holders pare back their weights.
SLB Insiders Sell Big While Park Trims Its Stake
Park National's cut to SLB Limited was its smallest — just 5.4% — leaving 244,272 shares worth about $12.6 million. But insider activity at SLB tells a bigger story. EVP Steve Matthew Gassen sold 53,379 shares at an average price of $56.18, pocketing roughly $3 million SEC Filings. Director Patrick de La Chevardiere sold an additional 2,000 shares at $54.33, totaling $108,660.
Gassen's sale cut his personal ownership in SLB by nearly 53%, according to MarketBeat. That level of insider selling — combined with volatile energy services markets — may signal that SLB's recent price strength has run its course. Park National's modest trim looks cautious by comparison.
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