Abbott Laboratories (NYSE:ABT) Shares Acquired by Prairie Sky Financial Group LLC

Prairie Sky Financial Group LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 1.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 78,482 shares of the healthcare product maker’s stock after purchasing an additional 1,042 shares during the quarter. Abbott Laboratories accounts for about 5.4% of Prairie Sky Financial Group LLC’s portfolio, making the stock its 7th biggest position. Prairie Sky Financial Group LLC’s holdings in Abbott Laboratories were worth $8,877,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment raised its position in shares of 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 purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the second quarter valued at about $32,000. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the third quarter worth about $32,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 78.4% in the third 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 in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.4 %

Abbott Laboratories stock opened at $113.45 on Tuesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $121.64. The company’s fifty day moving average price is $114.87 and its two-hundred day moving average price is $112.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market capitalization of $196.78 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.43 and a beta of 0.73.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.59 dividend. 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 2.08%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s payout ratio is 71.73%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Raymond James reaffirmed a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Barclays lifted their price target on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley increased their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $131.57.

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.