Tokio Marine Asset Management Co. Ltd. Has $5.36 Million Stake in Abbott Laboratories (NYSE:ABT)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Abbott Laboratories (NYSE:ABT) by 9.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 47,003 shares of the healthcare product maker’s stock after acquiring an additional 4,026 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Abbott Laboratories were worth $5,359,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories during the second quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories during the 3rd quarter worth about $31,000. Valued Wealth Advisors LLC increased its position 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 valued at $33,000 after acquiring an additional 127 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Abbott Laboratories during the second quarter worth approximately $32,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Trading Up 0.0 %

Shares of ABT stock traded up $0.01 during trading hours on Thursday, hitting $115.75. 223,365 shares of the company were exchanged, compared to its average volume of 5,679,979. The company has a 50 day simple moving average of $115.45 and a two-hundred day simple moving average of $109.39. The firm has a market cap of $200.76 billion, a P/E ratio of 35.18, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $96.92 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The firm had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 66.87%.

Analysts Set New Price Targets

Several research analysts have issued reports on ABT shares. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Raymond James reissued a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays raised their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Mizuho increased their target price 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. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

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.