Meiji Yasuda Asset Management Co Ltd. Acquires 7,432 Shares of Abbott Laboratories (NYSE:ABT)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in Abbott Laboratories (NYSE:ABT) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,915 shares of the healthcare product maker’s stock after purchasing an additional 7,432 shares during the period. Abbott Laboratories makes up about 0.8% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 19th largest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in Abbott Laboratories were worth $20,576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cape Investment Advisory Inc. increased its stake in Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 76 shares during the period. Cyrus J. Lawrence LLC grew its holdings in shares of Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after purchasing an additional 79 shares in the last quarter. LMG Wealth Partners LLC raised its stake in Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after purchasing an additional 80 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its position in Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares during the period. Finally, Glass Wealth Management Co LLC grew its stake in Abbott Laboratories by 3.2% during the fourth quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock worth $299,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,449 shares of company stock valued at $15,463,316. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

Shares of ABT stock opened at $127.31 on Tuesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. 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 stock has a market cap of $220.79 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.52 and a beta of 0.70. The stock has a 50-day moving average of $128.79 and a 200-day moving average of $120.04.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Evercore ISI raised their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, Barclays reissued an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $137.94.

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.