Tandem Capital Management Corp ADV Lowers Holdings in Abbott Laboratories (NYSE:ABT)

Tandem Capital Management Corp ADV decreased its position in Abbott Laboratories (NYSE:ABT) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. 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 holdings, making the stock its 9th biggest holding. Tandem Capital Management Corp ADV’s holdings in Abbott Laboratories were worth $3,626,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Stevens Capital Management LP raised its position in shares of Abbott Laboratories by 130.6% in the 4th quarter. Stevens Capital Management LP now owns 10,502 shares of the healthcare product maker’s stock valued at $1,156,000 after acquiring an additional 5,948 shares during the period. Syon Capital LLC raised its position in shares of Abbott Laboratories by 97.0% in the 4th quarter. Syon Capital LLC now owns 17,099 shares of the healthcare product maker’s stock valued at $1,882,000 after acquiring an additional 8,421 shares during the period. Meritage Portfolio Management raised its position in shares of Abbott Laboratories by 30.3% in the 4th quarter. Meritage Portfolio Management now owns 3,916 shares of the healthcare product maker’s stock valued at $431,000 after acquiring an additional 910 shares during the period. Disciplined Equity Management Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $55,000. Finally, GHE LLC raised its position in shares of Abbott Laboratories by 1.5% in the 4th quarter. GHE LLC now owns 12,547 shares of the healthcare product maker’s stock valued at $1,381,000 after acquiring an additional 182 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. 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. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

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

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Analysts Set New Price Targets

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

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.