Yarbrough Capital LLC Reduces Stock Position in Abbott Laboratories (NYSE:ABT)

Yarbrough Capital LLC lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 16.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,058 shares of the healthcare product maker’s stock after selling 1,182 shares during the quarter. Yarbrough Capital LLC’s holdings in Abbott Laboratories were worth $660,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in Abbott Laboratories by 7.6% during the 2nd quarter. Pacer Advisors Inc. now owns 118,288 shares of the healthcare product maker’s stock valued at $12,896,000 after acquiring an additional 8,329 shares during the period. Keel Point LLC lifted its holdings in shares of Abbott Laboratories by 5.5% in the 2nd quarter. Keel Point LLC now owns 6,684 shares of the healthcare product maker’s stock worth $729,000 after buying an additional 349 shares during the period. Beacon Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 13.8% in the 2nd quarter. Beacon Capital Management LLC now owns 1,400 shares of the healthcare product maker’s stock worth $153,000 after buying an additional 170 shares during the period. American National Bank lifted its holdings in shares of Abbott Laboratories by 12.2% in the 2nd quarter. American National Bank now owns 11,068 shares of the healthcare product maker’s stock worth $1,207,000 after buying an additional 1,203 shares during the period. Finally, Bath Savings Trust Co lifted its holdings in shares of Abbott Laboratories by 1.4% in the 2nd quarter. Bath Savings Trust Co now owns 150,856 shares of the healthcare product maker’s stock worth $16,446,000 after buying an additional 2,057 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $112.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Barclays boosted their price target on Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Wolfe Research raised Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research report on Friday, July 21st. StockNews.com began coverage on Abbott Laboratories in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Mizuho boosted their price target on Abbott Laboratories from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $120.82.

Insider Activity at Abbott Laboratories

In related news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the sale, the director now owns 6,775,316 shares in the company, valued at approximately $770,759,948.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the transaction, the director now directly owns 6,775,316 shares of the company’s stock, valued at approximately $770,759,948.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 10,400 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total value of $1,092,312.00. Following the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $6,829,785.81. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Down 0.6 %

NYSE:ABT traded down $0.59 on Tuesday, reaching $100.41. The company’s stock had a trading volume of 1,544,641 shares, compared to its average volume of 4,887,763. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $115.83. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.39. The firm has a market cap of $174.25 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 4.54 and a beta of 0.68. The stock has a 50 day moving average price of $106.17 and a 200 day moving average price of $105.24.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.03. The firm had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.71 billion. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 4.4 EPS for the current fiscal year.

Abbott Laboratories Company 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 Established Pharmaceutical Products segment 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.