Abbott Laboratories $ABT Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Abbott Laboratories by 17.2% in Q2, owning 288,232 shares valued at approximately $39.2 million at the quarter's end.
• Abbott Laboratories reported $1.26 EPS for the last quarter, which met analysts' expectations, and had revenue of $11.14 billion, up 7.4% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, with an annualized dividend yield of 1.8%, to be paid on November 17th.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 17.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Brighton Jones LLC grew its stake in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares in the last quarter. Cypress Wealth Services LLC grew its stake in shares of Abbott Laboratories by 3.3% in the first quarter. Cypress Wealth Services LLC now owns 3,021 shares of the healthcare product maker's stock valued at $401,000 after buying an additional 97 shares in the last quarter. Retirement Planning Group LLC grew its stake in shares of Abbott Laboratories by 6.7% in the first quarter. Retirement Planning Group LLC now owns 3,332 shares of the healthcare product maker's stock valued at $442,000 after buying an additional 209 shares in the last quarter. Breakwater Capital Group acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $592,000. Finally, Vest Financial LLC grew its stake in shares of Abbott Laboratories by 5.6% in the first quarter. Vest Financial LLC now owns 528,489 shares of the healthcare product maker's stock valued at $70,104,000 after buying an additional 28,176 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent research reports. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their price target on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Evercore ISI increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Leerink Partners assumed coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus price target of $145.39.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 1.1%

ABT opened at $134.49 on Friday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock has a market cap of $234.07 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.52 and a beta of 0.69. The stock's 50 day moving average price is $131.94 and its 200 day moving average price is $131.33.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted 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. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same period last year, the firm earned $1.14 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. 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, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. 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 payout ratio is currently 29.57%.

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.

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