Abbott Laboratories (NYSE:ABT) Holdings Decreased by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 32,939 shares of the healthcare product maker’s stock after selling 313 shares during the quarter. Abbott Laboratories accounts for approximately 2.3% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 9th largest position. Tandem Capital Management Corp ADV’s holdings in Abbott Laboratories were worth $3,626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $40,000. Cornerstone Planning Group LLC grew its position in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares during the last quarter. Legacy Financial Group LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $46,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $48,000. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABT shares. Royal Bank of Canada dropped their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Raymond James restated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday. Barclays lowered their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Citigroup lifted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Stock Performance

Shares of ABT stock remained flat at $106.89 during mid-day trading on Thursday. The stock had a trading volume of 3,111,313 shares, compared to its average volume of 5,687,034. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a 50-day moving average of $113.77 and a 200-day moving average of $107.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The firm has a market capitalization of $185.47 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Abbott Laboratories’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.06%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,435 shares of company stock worth $6,451,298. Corporate insiders own 1.10% of the company’s stock.

About Abbott Laboratories

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.