Raymond James Trust N.A. Has $23.19 Million Holdings in Abbott Laboratories (NYSE:ABT)

Raymond James Trust N.A. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 203,379 shares of the healthcare product maker’s stock after selling 5,886 shares during the quarter. Raymond James Trust N.A.’s holdings in Abbott Laboratories were worth $23,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. AlphaCore Capital LLC bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $217,000. Sessa Capital IM L.P. grew its holdings in Abbott Laboratories by 47.1% during the third quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock valued at $427,481,000 after purchasing an additional 1,200,409 shares during the last quarter. 49 Wealth Management LLC raised its position in shares of Abbott Laboratories by 52.1% in the third quarter. 49 Wealth Management LLC now owns 3,708 shares of the healthcare product maker’s stock valued at $423,000 after purchasing an additional 1,270 shares during the period. Lathrop Investment Management Corp lifted its stake in shares of Abbott Laboratories by 5.4% in the third quarter. Lathrop Investment Management Corp now owns 3,890 shares of the healthcare product maker’s stock worth $443,000 after buying an additional 200 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in Abbott Laboratories by 8.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,044,108 shares of the healthcare product maker’s stock valued at $121,733,000 after buying an additional 77,554 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’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 owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. UBS Group increased their target price on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Raymond James reiterated a “buy” rating and set a $129.00 target price (up from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $130.07.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $117.57 on Friday. The firm has a market capitalization of $203.91 billion, a P/E ratio of 35.73, a P/E/G ratio of 2.76 and a beta of 0.72. The stock has a fifty day moving average price of $115.55 and a two-hundred day moving average price of $109.80. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion for 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 company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. As a group, analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.87%. 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.