Tandem Capital Management Corp ADV Sells 1,078 Shares of Abbott Laboratories (NYSE:ABT)

Tandem Capital Management Corp ADV lessened its position in Abbott Laboratories (NYSE:ABT) by 3.4% during the third quarter, Holdings Channel.com reports. The fund owned 31,069 shares of the healthcare product maker’s stock after selling 1,078 shares during the period. Abbott Laboratories accounts for 1.8% of Tandem Capital Management Corp ADV’s holdings, making the stock its 18th largest holding. Tandem Capital Management Corp ADV’s holdings in Abbott Laboratories were worth $3,542,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories in the 2nd quarter worth $28,000. Future Financial Wealth Managment LLC bought a new stake in Abbott Laboratories in the 3rd quarter worth $31,000. Itau Unibanco Holding S.A. bought a new stake in Abbott Laboratories in the 2nd quarter worth $32,000. Ridgewood Investments LLC bought a new stake in Abbott Laboratories in the 2nd quarter worth $37,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $37,000. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler Companies assumed coverage on shares of Abbott Laboratories in a research note on Thursday, September 19th. They set an “overweight” rating and a $131.00 target price on the stock. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup lifted their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $129.67.

Insider Activity at Abbott Laboratories

In related 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 directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.9 %

Shares of Abbott Laboratories stock opened at $114.45 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a 50-day simple moving average of $114.79 and a two-hundred day simple moving average of $108.74. Abbott Laboratories has a 52-week low of $92.43 and a 52-week high of $121.64. The stock has a market capitalization of $199.13 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate 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 given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is 66.87%.

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.