Dai ichi Life Insurance Company Ltd Has $8.22 Million Position in Abbott Laboratories (NYSE:ABT)

Dai ichi Life Insurance Company Ltd decreased its stake in Abbott Laboratories (NYSE:ABT) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,110 shares of the healthcare product maker’s stock after selling 10,563 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Abbott Laboratories were worth $8,221,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Unique Wealth Strategies LLC bought a new position in shares of Abbott Laboratories in the second quarter valued at $28,000. Future Financial Wealth Managment LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC boosted its position in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction dated 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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 39.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by insiders.

Abbott Laboratories Trading Up 0.3 %

Shares of Abbott Laboratories stock opened at $118.13 on Tuesday. The firm’s 50 day moving average is $115.59 and its 200 day moving average is $110.04. The firm has a market capitalization of $204.89 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.86%. Abbott Laboratories’s dividend payout ratio is 66.87%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABT shares. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Morgan Stanley lifted their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. UBS Group boosted their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Citigroup raised their target price on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.07.

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.