Abbott Laboratories (NYSE:ABT) Stock Position Trimmed by Tandem Investment Advisors Inc.

by · The Cerbat Gem

Tandem Investment Advisors Inc. trimmed its position in Abbott Laboratories (NYSE:ABT – Free Report) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 987,573 shares of the healthcare product maker’s stock after selling 5,025 shares during the quarter. Abbott Laboratories accounts for approximately 4.6% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 4th largest holding. Tandem Investment Advisors Inc. owned about 0.06% of Abbott Laboratories worth $131,002,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter worth about $25,000. NewSquare Capital LLC raised its holdings in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Finally, Wormser Freres Gestion purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Leerink Partners assumed coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. Raymond James Financial lifted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Finally, Bank of America lifted their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.61.

Get Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Trading Down 1.6%

Shares of ABT stock opened at $134.08 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The stock has a fifty day moving average of $133.11 and a two-hundred day moving average of $128.01. The firm has a market capitalization of $233.28 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.59 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Profile

(Free Report)

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.

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