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

Stock Yards Bank & Trust Co. boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,575 shares of the healthcare product maker’s stock after purchasing an additional 1,006 shares during the quarter. Abbott Laboratories comprises approximately 1.2% of Stock Yards Bank & Trust Co.’s investment portfolio, making the stock its 22nd biggest position. Stock Yards Bank & Trust Co.’s holdings in Abbott Laboratories were worth $37,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at $30,000. Finally, True Wealth Design LLC grew its holdings 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 buying an additional 302 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABT. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Evercore ISI decreased their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Barclays lifted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, Citigroup lifted their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.80.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now 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 SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $117.63 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a market cap of $204.63 billion, a P/E ratio of 36.64, a P/E/G ratio of 2.90 and a beta of 0.72. The business has a fifty day simple moving average of $109.55 and a 200 day simple moving average of $108.57.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, sell-side analysts forecast 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.