Tandem Capital Management Corp ADV Sells 101 Shares of Abbott Laboratories $ABT

Tandem Capital Management Corp ADV reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,133 shares of the healthcare product maker’s stock after selling 101 shares during the period. Abbott Laboratories comprises approximately 2.1% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 15th biggest position. Tandem Capital Management Corp ADV’s holdings in Abbott Laboratories were worth $4,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kelly Financial Services LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $216,000. Edge Financial Advisors LLC increased its position in Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock worth $336,000 after buying an additional 81 shares during the last quarter. Avanza Fonder AB increased its position in Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the last quarter. Madrona Financial Services LLC increased its position in Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after buying an additional 152 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after buying an additional 73,780 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABT. Evercore ISI raised their target price on Abbott Laboratories from $140.00 to $144.00 and gave the stock an “outperform” rating in a research report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and increased their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company dropped their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $146.24.

Abbott Laboratories Trading Up 1.1%

Shares of ABT stock opened at $134.45 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $132.30 and a two-hundred day moving average price of $131.48. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a market cap of $234.00 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s payout ratio is 29.57%.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.