Stock Yards Bank & Trust Co. Has $37.16 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Stock Yards Bank & Trust Co. raised its holdings in Abbott Laboratories (NYSE:ABT) by 0.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 357,575 shares of the healthcare product maker’s stock after acquiring an additional 1,006 shares during the period. Abbott Laboratories comprises approximately 1.2% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 22nd biggest position. Stock Yards Bank & Trust Co.’s holdings in Abbott Laboratories were worth $37,156,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after purchasing an additional 8,834,840 shares during the last quarter. Capital Research Global Investors raised its position in shares of Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Capital International Investors lifted its stake in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after acquiring an additional 5,882,780 shares during the period. Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after acquiring an additional 1,027,390 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Abbott Laboratories by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,922,170 shares of the healthcare product maker’s stock worth $1,092,133,000 after purchasing an additional 228,039 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Evercore ISI decreased their price target 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Trading Up 1.1 %

NYSE:ABT opened at $117.63 on Tuesday. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a market cap of $204.63 billion, a PE ratio of 36.64, a PEG ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The firm has a 50-day moving average of $109.55 and a 200-day moving average of $108.57.

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

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.