Abbott Laboratories (NYSE:ABT) Shares Acquired by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.6% in the 3rd quarter, Holdings Channel reports. The fund owned 32,980 shares of the healthcare product maker’s stock after buying an additional 833 shares during the period. Abbott Laboratories makes up 2.0% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 15th largest position. Tandem Capital Management Corp ADV’s holdings in Abbott Laboratories were worth $3,748,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ABT. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the third quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new position in Abbott Laboratories during the second quarter valued at $32,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Down 1.1 %

ABT traded down $1.33 during trading hours on Friday, hitting $115.21. 292,576 shares of the company’s stock were exchanged, compared to its average volume of 5,696,916. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 12-month low of $91.64 and a 12-month high of $121.64. The firm has a market cap of $200.42 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The firm has a 50 day moving average of $114.46 and a 200 day moving average of $108.62.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.55 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price on the stock. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays increased their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Oppenheimer began coverage on shares of Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

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 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.