Abbott Laboratories (NYSE:ABT) is Tandem Investment Advisors Inc.’s 6th Largest Position

Tandem Investment Advisors Inc. lowered its position in Abbott Laboratories (NYSE:ABT) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 992,412 shares of the healthcare product maker’s stock after selling 3,914 shares during the quarter. Abbott Laboratories accounts for approximately 4.3% of Tandem Investment Advisors Inc.’s holdings, making the stock its 6th biggest holding. Tandem Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $113,145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Unique Wealth Strategies LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories during the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $32,000. Valued Wealth Advisors LLC raised its stake in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Abbott Laboratories during the second quarter worth about $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value 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 $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Shares of ABT opened at $115.31 on Friday. The firm has a market capitalization of $200.00 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. The stock’s fifty day moving average is $115.20 and its 200-day moving average is $109.08. Abbott Laboratories has a one year low of $92.43 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is currently 66.87%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several research reports. Royal Bank of Canada lifted their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Mizuho boosted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Raymond James reiterated a “buy” rating and set a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Oppenheimer started coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Piper Sandler Companies began coverage on Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.07.

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.