Raymond James Trust N.A. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 155,392 shares of the healthcare product maker’s stock after selling 2,509 shares during the period. Raymond James Trust N.A.’s holdings in Abbott Laboratories were worth $16,912,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JustInvest LLC grew its stake in Abbott Laboratories by 44.0% during the second quarter. JustInvest LLC now owns 12,672 shares of the healthcare product maker’s stock worth $1,159,000 after buying an additional 3,873 shares in the last quarter. Rhenman & Partners Asset Management AB grew its stake in Abbott Laboratories by 10.8% during the third quarter. Rhenman & Partners Asset Management AB now owns 205,000 shares of the healthcare product maker’s stock worth $22,310,000 after buying an additional 20,000 shares in the last quarter. Callahan Advisors LLC grew its stake in Abbott Laboratories by 0.7% during the second quarter. Callahan Advisors LLC now owns 106,753 shares of the healthcare product maker’s stock worth $9,760,000 after buying an additional 724 shares in the last quarter. Virtu Financial LLC acquired a new stake in Abbott Laboratories during the second quarter worth about $203,000. Finally, Advisor Group Holdings Inc. acquired a new stake in Abbott Laboratories during the first quarter worth about $38,642,000. Hedge funds and other institutional investors own 73.09% of the company’s stock.

Shares of NYSE ABT opened at $109.67 on Friday. The company has a 50 day simple moving average of $106.58 and a 200 day simple moving average of $96.39. The firm has a market cap of $194.17 billion, a PE ratio of 63.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.92. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.57 and a quick ratio of 1.10.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The firm had revenue of $7.33 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the business earned $0.82 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Abbott Laboratories will post 3.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $1.44 annualized dividend and a yield of 1.31%. Abbott Laboratories’s payout ratio is 44.44%.

In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $98.00, for a total transaction of $2,254,784.00. Following the completion of the transaction, the senior vice president now owns 96,899 shares in the company, valued at approximately $9,496,102. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $107.01, for a total transaction of $3,210,300.00. Following the transaction, the executive vice president now owns 74,080 shares of the company’s stock, valued at approximately $7,927,300.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,771 shares of company stock valued at $12,220,943. Company insiders own 1.70% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research note on Monday, October 12th. JPMorgan Chase & Co. raised their price target on shares of Abbott Laboratories from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Citigroup raised their price target on shares of Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Wolfe Research assumed coverage on shares of Abbott Laboratories in a research note on Friday, September 11th. They issued an “outperform” rating and a $124.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and an average target price of $114.44.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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