Meiji Yasuda Asset Management Co Ltd. Takes $7.73 Million Position in Abbott Laboratories $ABT

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 85,147 shares of the healthcare product maker's stock, valued at approximately $7,726,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at $25,000. Purpose Unlimited Inc. purchased a new position in Abbott Laboratories in the fourth quarter valued at $25,000. Portfolio Resources Advisor Group Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth $26,000. Finally, Abound Financial LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth about $26,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABT. BTIG Research lifted their price objective on Abbott Laboratories from $131.00 to $134.00 and gave the company a "buy" rating in a research note on Friday, July 17th. TD Cowen raised their target price on shares of Abbott Laboratories from $115.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. Citigroup lifted their price target on shares of Abbott Laboratories from $108.00 to $112.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Wolfe Research raised shares of Abbott Laboratories from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective on the stock in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Abbott Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $119.50.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $110.48 on Tuesday. The stock's 50-day simple moving average is $103.06 and its 200-day simple moving average is $100.13. The firm has a market capitalization of $191.17 billion, a PE ratio of 35.75, a price-to-earnings-growth ratio of 2.18 and a beta of 0.59. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $137.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The company had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The firm's revenue was up 13.0% on a year-over-year basis. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 81.55%.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

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