Blackhawk Capital Partners LLC. Purchases 921 Shares of Abbott Laboratories (NYSE:ABT)

Blackhawk Capital Partners LLC. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 3.5% in the 1st quarter, HoldingsChannel reports. The fund owned 27,600 shares of the healthcare product maker’s stock after acquiring an additional 921 shares during the period. Abbott Laboratories makes up about 1.9% of Blackhawk Capital Partners LLC.’s portfolio, making the stock its 11th largest holding. Blackhawk Capital Partners LLC.’s holdings in Abbott Laboratories were worth $3,661,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Garrett Wealth Advisory Group LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at approximately $225,000. China Universal Asset Management Co. Ltd. increased its stake in Abbott Laboratories by 24.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,766 shares of the healthcare product maker’s stock valued at $3,153,000 after purchasing an additional 4,707 shares in the last quarter. Abound Financial LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at approximately $28,000. Interchange Capital Partners LLC increased its stake in Abbott Laboratories by 2.8% during the 1st quarter. Interchange Capital Partners LLC now owns 15,280 shares of the healthcare product maker’s stock valued at $2,027,000 after purchasing an additional 416 shares in the last quarter. Finally, Fullcircle Wealth LLC increased its stake in shares of Abbott Laboratories by 0.9% in the first quarter. Fullcircle Wealth LLC now owns 13,721 shares of the healthcare product maker’s stock worth $1,777,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $133.62 on Tuesday. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $133.38 and its two-hundred day moving average is $128.66. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The stock has a market capitalization of $232.48 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.55 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.77%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.61%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABT. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Thursday, April 17th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Bank of America raised their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Barclays lifted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Finally, Raymond James Financial lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.61.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Company Profile

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.