Mirae Asset Global Investments Co. Ltd. Has $19.99 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 23.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 184,961 shares of the healthcare product maker’s stock after acquiring an additional 35,127 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Abbott Laboratories were worth $19,990,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ABT. Unique Wealth Strategies LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $32,000. Finally, Ridgewood Investments LLC acquired a new position in Abbott Laboratories in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ABT shares. Mizuho upped their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Citigroup upped their price target on Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. UBS Group upped their price objective on Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Oppenheimer began coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Piper Sandler Companies began coverage on Abbott Laboratories in a research note on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Stock Down 2.0 %

NYSE:ABT opened at $114.22 on Friday. The stock’s fifty day moving average price is $114.63 and its two-hundred day moving average price is $108.67. Abbott Laboratories has a 52-week low of $91.64 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company has a market cap of $198.70 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. On average, analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Insider Activity

In related news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

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.