Heck Capital Advisors LLC Purchases New Shares in Abbott Laboratories (NYSE:ABT)

Heck Capital Advisors LLC bought a new position in Abbott Laboratories (NYSE:ABT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,830 shares of the healthcare product maker’s stock, valued at approximately $886,000.

A number of other large investors have also made changes to their positions in the stock. Groupama Asset Managment increased its position in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at about $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 78.4% during the third 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. Finally, Highline Wealth Partners LLC bought a new stake in Abbott Laboratories in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.9 %

NYSE ABT opened at $127.69 on Friday. The stock has a fifty day moving average of $116.17 and a 200-day moving average of $114.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a market capitalization of $221.47 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 2.38 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $129.85.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.85%. Abbott Laboratories’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABT. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

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.