Nomura Asset Management Co. Ltd. Purchases 68,779 Shares of Abbott Laboratories (NYSE:ABT)

Nomura Asset Management Co. Ltd. increased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,109,047 shares of the healthcare product maker's stock after buying an additional 68,779 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.06% of Abbott Laboratories worth $126,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $5,485,000. MML Investors Services LLC boosted its position in shares of Abbott Laboratories by 6.8% during the 3rd quarter. MML Investors Services LLC now owns 511,086 shares of the healthcare product maker's stock valued at $58,269,000 after purchasing an additional 32,427 shares in the last quarter. First National Bank of Omaha grew its stake in Abbott Laboratories by 3.0% during the third quarter. First National Bank of Omaha now owns 193,931 shares of the healthcare product maker's stock worth $22,110,000 after purchasing an additional 5,683 shares during the period. Dunhill Financial LLC lifted its stake in Abbott Laboratories by 45.7% in the third quarter. Dunhill Financial LLC now owns 571 shares of the healthcare product maker's stock valued at $65,000 after buying an additional 179 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Abbott Laboratories by 12.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 188,697 shares of the healthcare product maker's stock worth $21,513,000 after buying an additional 20,447 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded down $1.07 during trading on Monday, hitting $114.53. The stock had a trading volume of 1,838,759 shares, compared to its average volume of 5,628,358. 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 has a 12 month low of $99.71 and a 12 month high of $121.64. The firm has a market cap of $198.65 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 2.72 and a beta of 0.73. The business's 50-day moving average is $116.15 and its 200 day moving average is $110.86.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analysts' expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The company's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors 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 dividend on an annualized basis and a dividend yield of 1.92%. Abbott Laboratories's dividend payout ratio is 66.87%.

Insider Buying and Selling

In other news, CEO Robert B. Ford sold 141,679 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company's stock, valued at approximately $25,617,068.19. This trade represents a 39.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Piper Sandler increased their price objective 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. Morgan Stanley boosted their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Raymond James restated a "buy" rating and issued a $129.00 target price (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They set an "outperform" rating and a $130.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $130.07.

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.