Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,497 shares of the healthcare product maker’s stock after acquiring an additional 1,709 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Abbott Laboratories were worth $41,922,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of ABT. Signature Estate & Investment Advisors LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth $103,000. Atlantic Trust LLC bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth $104,000. Fort L.P. bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth $119,000. Security National Bank of SO Dak raised its stake in shares of Abbott Laboratories by 72.0% during the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock worth $128,000 after purchasing an additional 878 shares during the period. Finally, Mainstay Capital Management LLC ADV raised its stake in shares of Abbott Laboratories by 1,069.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 4,374 shares of the healthcare product maker’s stock worth $131,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.
Shares of Abbott Laboratories stock opened at $69.95 on Friday. Abbott Laboratories has a 52-week low of $54.33 and a 52-week high of $74.92. The stock has a market capitalization of $125.65 billion, a P/E ratio of 25.46, a PEG ratio of 2.13 and a beta of 1.40. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a return on equity of 16.05% and a net margin of 2.91%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 2.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, October 15th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s payout ratio is presently 44.80%.
ABT has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Abbott Laboratories from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday. Goldman Sachs Group upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $81.00 in a research note on Friday, November 30th. UBS Group initiated coverage on Abbott Laboratories in a research note on Tuesday, November 27th. They issued a “buy” rating and a $83.00 price objective on the stock. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 18th. Finally, Raymond James boosted their price objective on Abbott Laboratories from $77.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $76.00.
In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 5,000 shares of Abbott Laboratories stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $73.39, for a total transaction of $366,950.00. Following the completion of the transaction, the insider now owns 93,321 shares of the company’s stock, valued at approximately $6,848,828.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sharon J. Bracken sold 1,732 shares of Abbott Laboratories stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $73.35, for a total value of $127,042.20. Following the transaction, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at approximately $2,877,447.15. The disclosure for this sale can be found here. Insiders have sold a total of 272,273 shares of company stock valued at $19,410,942 in the last ninety days. Insiders own 0.74% of the company’s stock.
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Abbott Laboratories Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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