Stock Yards Bank & Trust Co. Has $38.17 Million Stake in Abbott Laboratories (NYSE:ABT)

Stock Yards Bank & Trust Co. lessened its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,775 shares of the healthcare product maker's stock after selling 22,800 shares during the period. Abbott Laboratories comprises 1.2% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 23rd largest position. Stock Yards Bank & Trust Co.'s holdings in Abbott Laboratories were worth $38,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock valued at $1,518,539,000 after buying an additional 2,711,586 shares during the last quarter. Sessa Capital IM L.P. bought a new position in Abbott Laboratories during the second quarter worth about $264,876,000. State Street Corp lifted its position in shares of Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock valued at $8,746,896,000 after buying an additional 2,323,807 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Abbott Laboratories by 493.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker's stock valued at $249,508,000 after purchasing an additional 1,996,320 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Abbott Laboratories by 13,194.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker's stock worth $191,515,000 after buying an additional 1,667,170 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Mizuho increased their target price on Abbott Laboratories from $115.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. Piper Sandler raised their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Finally, Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.07.

Abbott Laboratories Price Performance

ABT traded down $0.28 on Thursday, reaching $113.86. The stock had a trading volume of 3,757,051 shares, compared to its average volume of 5,623,352. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $197.49 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.72 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $121.64. The firm has a 50-day moving average of $116.22 and a 200-day moving average of $111.04.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories's payout ratio is 66.87%.

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.