Abbott Laboratories $ABT Position Boosted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Abbott Laboratories by 5%, owning 176,920 shares valued at approximately $23.47 million after buying an additional 8,503 shares.
• Several institutional investors purchased new stakes in Abbott Laboratories during the 1st quarter, indicating strong interest as they collectively own 75.18% of the company's stock.
• Abbott Laboratories has received multiple upgrades from analysts, with price targets raised by firms like Jefferies and Royal Bank of Canada, and has a consensus rating of "Moderate Buy" with a price target of $144.47.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,920 shares of the healthcare product maker's stock after buying an additional 8,503 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Abbott Laboratories were worth $23,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Nuveen LLC purchased a new stake in Abbott Laboratories during the first quarter worth about $1,658,180,000. GAMMA Investing LLC grew its holdings in shares of Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after purchasing an additional 5,069,771 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP boosted its position in Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after acquiring an additional 1,639,954 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

ABT has been the topic of several analyst reports. Morgan Stanley increased their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Raymond James Financial reduced their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, July 18th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Finally, Evercore ISI increased their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Stock Down 1.9%

NYSE:ABT traded down $2.56 during midday trading on Wednesday, hitting $129.39. 7,392,932 shares of the company were exchanged, compared to its average volume of 4,846,492. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a market capitalization of $225.20 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. The company has a fifty day simple moving average of $130.43 and a 200 day simple moving average of $131.35.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion for 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 company's quarterly revenue was up 7.4% on a year-over-year basis. During the same period 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 analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's payout ratio is presently 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the 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 of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.46% of the company's stock.

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.