Mirae Asset Global Investments Co. Ltd. Has $31.29 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 245,966 shares of the healthcare product maker's stock after acquiring an additional 11,419 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Abbott Laboratories were worth $31,291,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lafayette Investments Inc. raised its stake in Abbott Laboratories by 10.2% during the 1st quarter. Lafayette Investments Inc. now owns 2,571 shares of the healthcare product maker's stock worth $341,000 after acquiring an additional 237 shares in the last quarter. Achmea Investment Management B.V. lifted its holdings in shares of Abbott Laboratories by 43.4% in the 1st quarter. Achmea Investment Management B.V. now owns 138,999 shares of the healthcare product maker's stock valued at $18,438,000 after purchasing an additional 42,090 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its position in shares of Abbott Laboratories by 12.0% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,163 shares of the healthcare product maker's stock valued at $287,000 after purchasing an additional 232 shares during the period. Border to Coast Pensions Partnership Ltd increased its position in Abbott Laboratories by 8.9% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 403,614 shares of the healthcare product maker's stock worth $53,539,000 after buying an additional 32,875 shares during the period. Finally, Victrix Investment Advisors purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $342,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Leerink Partners assumed coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. The Goldman Sachs Group upped their price target on Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average price target of $142.61.

Abbott Laboratories Stock Up 1.3%

Shares of NYSE ABT traded up $1.71 during mid-day trading on Monday, reaching $136.09. 5,748,216 shares of the company's stock were exchanged, compared to its average volume of 6,148,248. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $236.77 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.55 and a beta of 0.73. The business has a fifty day simple moving average of $132.82 and a 200 day simple moving average of $127.75.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. As a group, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is 30.61%.

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.