Meiji Yasuda Asset Management Co Ltd. Acquires 38,878 Shares of Abbott Laboratories (NYSE:ABT)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 29.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,569 shares of the healthcare product maker’s stock after buying an additional 38,878 shares during the quarter. Abbott Laboratories makes up approximately 0.7% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 25th biggest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in Abbott Laboratories were worth $17,932,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ABT. Unique Wealth Strategies LLC bought a new position in Abbott Laboratories in the second quarter worth about $28,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories in the first quarter worth $30,000. Finally, True Wealth Design LLC increased its position in shares of Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $118.13 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company’s fifty day moving average price is $109.88 and its 200 day moving average price is $108.56. The stock has a market capitalization of $205.50 billion, a P/E ratio of 36.80, a P/E/G ratio of 2.90 and a beta of 0.72. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABT. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Barclays boosted their price target on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.80.

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.