Tandem Investment Advisors Inc. increased its holdings in Abbott Laboratories (NYSE:ABT) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,576 shares of the healthcare product maker’s stock after purchasing an additional 4,010 shares during the quarter. Abbott Laboratories makes up approximately 4.4% 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 $11,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sanders Morris Harris LLC boosted its position in Abbott Laboratories by 0.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after acquiring an additional 16 shares in the last quarter. St. Louis Trust Co boosted its position in Abbott Laboratories by 0.4% during the 2nd quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after acquiring an additional 20 shares in the last quarter. Lakeview Capital Partners LLC boosted its position in Abbott Laboratories by 0.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after acquiring an additional 33 shares in the last quarter. Johanson Financial Advisors Inc. boosted its position in Abbott Laboratories by 0.5% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after acquiring an additional 37 shares in the last quarter. Finally, Country Club Trust Company n.a. boosted its position in Abbott Laboratories by 0.5% during the 2nd quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock valued at $356,000 after acquiring an additional 38 shares in the last quarter. 71.32% of the stock is currently owned by institutional investors.

Several research firms have weighed in on ABT. ValuEngine cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Jefferies Group reiterated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a report on Thursday, October 19th. Royal Bank of Canada lifted their target price on shares of Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Cowen set a $68.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $57.56.

Abbott Laboratories (NYSE ABT) opened at $55.06 on Thursday. Abbott Laboratories has a 1-year low of $37.90 and a 1-year high of $56.69. The firm has a market cap of $96,951.48, a P/E ratio of 23.11, a P/E/G ratio of 2.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.93%. Abbott Laboratories’s payout ratio is currently 83.47%.

In related news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the transaction, the insider now directly owns 113,426 shares in the company, valued at approximately $6,005,906.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the completion of the transaction, the chairman now owns 3,677,913 shares of the company’s stock, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 588,013 shares of company stock valued at $32,023,946. 0.76% of the stock is owned by company insiders.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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