Blackhawk Capital Partners LLC. Has $3.06 Million Stake in Abbott Laboratories (NYSE:ABT)

Blackhawk Capital Partners LLC. lessened its stake in Abbott Laboratories (NYSE:ABT) by 10.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 26,801 shares of the healthcare product maker’s stock after selling 2,969 shares during the period. Abbott Laboratories comprises about 1.6% of Blackhawk Capital Partners LLC.’s investment portfolio, making the stock its 13th largest position. Blackhawk Capital Partners LLC.’s holdings in Abbott Laboratories were worth $3,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Unique Wealth Strategies LLC bought a new stake in Abbott Laboratories during the second quarter valued at $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new stake in Abbott Laboratories during the second quarter worth approximately $32,000. Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the third quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $115.93 on Thursday. The company has a market capitalization of $201.07 billion, a PE ratio of 35.24, a PEG ratio of 2.76 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $115.54 and its 200-day moving average price is $109.74. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, October 15th. Abbott Laboratories’s payout ratio is 66.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho boosted their target price 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. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Morgan Stanley increased their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Citigroup upped their target price on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.07.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% 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.