Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in Abbott Laboratories (NYSE:ABT)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Abbott Laboratories (NYSE:ABT) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,339,667 shares of the healthcare product maker’s stock after acquiring an additional 345,700 shares during the period. Abbott Laboratories accounts for about 0.8% of Mitsubishi UFJ Asset Management Co. Ltd.’s holdings, making the stock its 19th biggest position. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Abbott Laboratories were worth $835,474,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its stake in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the period. Noble Wealth Management PBC bought a new position in Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC increased its stake in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $34,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.7 %

ABT opened at $126.46 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $129.35 and its 200 day simple moving average is $120.16. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $219.31 billion, a PE ratio of 16.53, a P/E/G ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,449 shares of company stock valued at $15,463,316. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Citigroup boosted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. UBS Group increased their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group lifted their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.