Abbott Laboratories (NYSE:ABT) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Abbott Laboratories by 8.7%, owning a total of 52,589 shares worth approximately $6.98 million as of the latest SEC filing.
• Multiple institutional investors have recently acquired new stakes in Abbott Laboratories, contributing to a total of 75.18% of the company’s stock being owned by hedge funds and institutional investors.
• Abbott Laboratories has announced a quarterly dividend of $0.59 per share, with a dividend yield of 1.8%, payable to investors of record on July 15th.

Tokio Marine Asset Management Co. Ltd. lifted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,589 shares of the healthcare product maker's stock after purchasing an additional 4,195 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Abbott Laboratories were worth $6,976,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ABT. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the first quarter valued at $28,000. Wormser Freres Gestion purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at $32,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Barclays lifted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Wells Fargo & Company cut their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Stifel Nicolaus boosted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

ABT stock opened at $130.92 on Wednesday. The company has a market cap of $227.85 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 2.49 and a beta of 0.70. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $131.60 and a two-hundred day moving average price of $131.16. Abbott Laboratories has a 12-month low of $107.60 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The business had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is 29.57%.

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.

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