Abbott Laboratories (NYSE:ABT) is Sky Investment Group LLC’s 6th Largest Position

Sky Investment Group LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,924 shares of the healthcare product maker’s stock after selling 253 shares during the period. Abbott Laboratories makes up about 2.2% of Sky Investment Group LLC’s holdings, making the stock its 6th largest holding. Sky Investment Group LLC’s holdings in Abbott Laboratories were worth $11,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Groupama Asset Managment lifted its stake in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories in the third quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories in the second quarter worth $32,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories during the third quarter valued at $32,000. Finally, Valued Wealth Advisors LLC increased its stake in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Mizuho increased their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group lifted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Raymond James reissued a “buy” rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Morgan Stanley lifted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $131.57.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $113.45 on Tuesday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a market cap of $196.78 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $114.93 and a 200-day moving average price of $112.87.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 66.87%.

Abbott Laboratories 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.