Stock Yards Bank & Trust Co. Reduces Stake in Abbott Laboratories $ABT

Stock Yards Bank & Trust Co. reduced its position in Abbott Laboratories (NYSE:ABT) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,843 shares of the healthcare product maker’s stock after selling 5,314 shares during the period. Abbott Laboratories makes up about 1.4% of Stock Yards Bank & Trust Co.’s investment portfolio, making the stock its 20th biggest position. Stock Yards Bank & Trust Co.’s holdings in Abbott Laboratories were worth $41,870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Nuveen LLC purchased a new position in Abbott Laboratories during the first quarter valued at $1,658,180,000. Goldman Sachs Group Inc. lifted its position in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after acquiring an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after purchasing an additional 1,639,954 shares during the last quarter. Finally, Jensen Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 1,221.2% in the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock worth $181,171,000 after purchasing an additional 1,262,407 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.1%

Abbott Laboratories stock opened at $134.49 on Friday. The business has a fifty day moving average of $131.94 and a two-hundred day moving average of $131.33. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market cap of $234.07 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of several analyst reports. BTIG Research reduced their price objective on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research note on Saturday, September 27th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Finally, Evercore ISI upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.39.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

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.