This is the full entry:

To HUG, (hug) u. a. To press close in an embrace; to fondle ; to treat with tenderness ; to hold fast; to gripe in wrestling ; to applaud or congratulate one's self, on account of supposed advantage or superiority.

Modern meaning (The American HeritageŽ Dictionary):

hug (hŭg)
v. hugged, hugˇging, hugs

v. tr.
1. To clasp or hold closely, especially in the arms, as in affection; embrace.

2. To hold steadfastly to; cherish: He still hugs his outmoded beliefs.

3. To stay close to: a sailboat hugging the shore.

v. intr.
To embrace or cling together closely.

n.
1. A close, affectionate embrace.

2. A crushing embrace, as in wrestling.

Most of the meanings are the same.