Mirae Asset Global Investments Co. Ltd. Buys 42,266 Shares of Abbott Laboratories $ABT

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Abbott Laboratories (NYSE:ABT) by 17.2% during the 2nd quarter, Holdings Channel reports. The fund owned 288,232 shares of the healthcare product maker’s stock after acquiring an additional 42,266 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Abbott Laboratories were worth $39,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ABT. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $134.49 on Friday. The firm has a fifty day moving average of $131.94 and a two-hundred day moving average of $131.33. The stock has a market capitalization of $234.07 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Raymond James Financial reduced their price objective on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a report on Friday, July 18th. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a report on Saturday, September 27th. Evercore ISI upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.39.

Abbott Laboratories 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.