Abbott Laboratories (NYSE:ABT) is Tandem Investment Advisors Inc.’s 3rd Largest Position

Tandem Investment Advisors Inc. lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 16.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,786 shares of the healthcare product maker’s stock after selling 75,288 shares during the quarter. Abbott Laboratories makes up approximately 4.7% of Tandem Investment Advisors Inc.’s holdings, making the stock its 3rd largest holding. Tandem Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $34,815,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors lifted its position in Abbott Laboratories by 17.9% during the 1st quarter. Capital International Investors now owns 55,781,543 shares of the healthcare product maker’s stock worth $4,401,723,000 after acquiring an additional 8,454,341 shares in the last quarter. Polen Capital Management LLC lifted its position in Abbott Laboratories by 86.7% during the 1st quarter. Polen Capital Management LLC now owns 16,659,583 shares of the healthcare product maker’s stock worth $1,314,608,000 after acquiring an additional 7,735,426 shares in the last quarter. Veritas Asset Management LLP acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $398,420,000. Wellington Management Group LLP lifted its position in Abbott Laboratories by 11.9% during the 1st quarter. Wellington Management Group LLP now owns 43,184,886 shares of the healthcare product maker’s stock worth $3,407,719,000 after acquiring an additional 4,584,550 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Abbott Laboratories by 2.7% during the 1st quarter. BlackRock Inc. now owns 128,123,947 shares of the healthcare product maker’s stock worth $10,110,260,000 after acquiring an additional 3,395,345 shares in the last quarter. Hedge funds and other institutional investors own 73.59% of the company’s stock.

In other news, EVP Andrew H. Lane sold 80,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total value of $7,360,000.00. Following the completion of the transaction, the executive vice president now owns 107,090 shares of the company’s stock, valued at $9,852,280. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roxanne S. Austin sold 6,844 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $99.80, for a total value of $683,031.20. Following the completion of the transaction, the director now directly owns 40,043 shares of the company’s stock, valued at approximately $3,996,291.40. The disclosure for this sale can be found here. In the last three months, insiders sold 110,724 shares of company stock valued at $10,377,028. Company insiders own 1.70% of the company’s stock.

A number of brokerages have issued reports on ABT. Stifel Nicolaus upped their target price on Abbott Laboratories from $85.00 to $108.00 in a research report on Friday, April 17th. Goldman Sachs Group lowered Abbott Laboratories from a “neutral” rating to a “sell” rating and set a $84.00 target price on the stock. in a research report on Sunday, May 31st. Zacks Investment Research lowered Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 target price on the stock. in a research report on Wednesday, April 15th. Argus upped their target price on Abbott Laboratories from $110.00 to $125.00 in a research report on Thursday, July 23rd. Finally, Credit Suisse Group upped their target price on Abbott Laboratories from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Hold” and a consensus price target of $105.13.

ABT traded down $0.89 during trading on Friday, reaching $100.64. 4,604,259 shares of the company were exchanged, compared to its average volume of 4,638,467. The stock has a market cap of $178.02 billion, a P/E ratio of 58.17, a PEG ratio of 3.35 and a beta of 0.97. The firm has a 50 day moving average of $93.64 and a 200 day moving average of $88.45. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. Abbott Laboratories has a 52 week low of $61.61 and a 52 week high of $102.89.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. The firm had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $6.85 billion. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. As a group, analysts forecast that Abbott Laboratories will post 3.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid a $0.36 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.43%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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