1,920,886 Shares of Abbott Laboratories $ABT Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 1.92 million Abbott shares worth approximately $189.8 million, giving it a 0.11% stake. Institutional investors collectively own 75.18% of ABT.
• Abbott reported quarterly revenue of $13.01 billion and earnings of $1.42 per share, both slightly ahead of expectations, with revenue up 14.5% year over year. The company also declared a quarterly dividend of $0.63 per share, yielding about 2.4% annually.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $118.32, although several firms recently lowered their targets. Abbott also faces competitive pressure from Dexcom in continuous glucose monitoring and potential execution risks related to a proposed business breakup.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,920,886 shares of the healthcare product maker's stock, valued at approximately $189,841,000. Mirae Asset Global Investments Co. Ltd. owned 0.11% of Abbott Laboratories as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABT. Elwood & Goetz Wealth Advisory Group LLC grew its stake in Abbott Laboratories by 3.1% in the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker's stock valued at $318,000 after buying an additional 97 shares in the last quarter. Parkway Wealth Management Group LLC lifted its position in shares of Abbott Laboratories by 3.2% during the third quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker's stock worth $317,000 after acquiring an additional 98 shares in the last quarter. St. Johns Investment Management Company LLC lifted its position in shares of Abbott Laboratories by 1.0% during the second quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker's stock worth $895,000 after acquiring an additional 101 shares in the last quarter. AA Financial Advisors LLC boosted its holdings in shares of Abbott Laboratories by 1.7% in the third quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker's stock worth $611,000 after acquiring an additional 101 shares during the period. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Abbott Laboratories by 1.2% in the third quarter. Eagle Bay Advisors LLC now owns 8,448 shares of the healthcare product maker's stock worth $835,000 after acquiring an additional 102 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 1.7%

Shares of ABT stock opened at $106.33 on Friday. The company has a market capitalization of $183.99 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 1.86 and a beta of 0.59. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02. The business's fifty day moving average is $104.36 and its 200 day moving average is $102.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 EPS for the quarter, hitting the consensus estimate of $1.42. The business had revenue of $13.01 billion during the quarter, compared to analysts' expectations of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is 94.03%.

Trending Headlines about Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. UBS Group reduced their price target on Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Citigroup cut their target price on Abbott Laboratories from $125.00 to $122.00 and set a "buy" rating for the company in a research note on Thursday, October 22nd. JPMorgan Chase & Co. reduced their target price on Abbott Laboratories from $120.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, October 22nd. Wells Fargo & Company upped their price target on Abbott Laboratories from $112.00 to $119.00 and gave the company an "overweight" rating in a research report on Thursday, October 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of Abbott Laboratories from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus price target of $118.32.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women's health and cardiometabolic care.

The company's nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.

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