Abbott Laboratories (ABT) Position Lifted by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 424,495 shares of the healthcare product maker’s stock after acquiring an additional 10,744 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Abbott Laboratories were worth $22,651,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ABT. Sanders Morris Harris LLC boosted its stake in Abbott Laboratories by 0.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after purchasing an additional 16 shares during the period. St. Louis Trust Co boosted its stake in Abbott Laboratories by 0.4% in the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after purchasing an additional 20 shares during the period. Lakeview Capital Partners LLC boosted its stake in Abbott Laboratories by 0.6% in the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after purchasing an additional 33 shares during the period. Johanson Financial Advisors Inc. boosted its stake in Abbott Laboratories by 0.5% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after purchasing an additional 37 shares during the period. Finally, Country Club Trust Company n.a. boosted its stake in Abbott Laboratories by 0.5% in the 2nd quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock valued at $356,000 after purchasing an additional 38 shares during the period. 71.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Abbott Laboratories (NYSE ABT) opened at $56.93 on Tuesday. The firm has a market capitalization of $99,092.41, a price-to-earnings ratio of 44.83, a PEG ratio of 2.06 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1 year low of $38.07 and a 1 year high of $57.32.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue was up 28.8% compared to the same quarter last year. sell-side analysts anticipate that Abbott Laboratories will post 2.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

In related news, insider Alejandro D. Wellisch sold 2,153 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sharon J. Bracken sold 2,188 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the sale, the insider now owns 25,618 shares of the company’s stock, valued at $1,437,682.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 501,172 shares of company stock valued at $27,533,150. 0.76% of the stock is owned by corporate insiders.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Abbott Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Jefferies Group reiterated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 19th. Royal Bank of Canada upped their target price on Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, October 19th. Finally, Stifel Nicolaus upped their target price on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.56.

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Abbott Laboratories Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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