Abbott Laboratories (NYSE:ABT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 32.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,080 shares of the healthcare product maker’s stock after selling 110,540 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Abbott Laboratories were worth $27,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bourgeon Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. Dravo Bay LLC acquired a new position in Abbott Laboratories during the first quarter worth about $32,000. Delos Wealth Advisors LLC raised its position in Abbott Laboratories by 100.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 116 shares during the last quarter. Holloway Wealth Management LLC raised its position in Abbott Laboratories by 175.0% during the first quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 175 shares during the last quarter. Finally, Monumental Financial Group Inc. acquired a new position in Abbott Laboratories during the first quarter worth about $38,000. Institutional investors and hedge funds own 73.03% of the company’s stock.

Abbott Laboratories Trading Down 1.0 %

NYSE ABT opened at $104.00 on Friday. The company’s fifty day simple moving average is $107.63 and its 200-day simple moving average is $112.27. Abbott Laboratories has a 52 week low of $101.21 and a 52 week high of $142.60. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46. The stock has a market cap of $182.13 billion, a P/E ratio of 21.71, a PEG ratio of 3.92 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The business had revenue of $11.26 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 4.99 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a $0.47 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.88 annualized dividend and a yield of 1.81%. Abbott Laboratories’s dividend payout ratio is presently 39.25%.

Insider Activity at Abbott Laboratories

In related news, CEO Robert B. Ford sold 102,425 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total value of $10,764,867.50. Following the sale, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at $14,931,662.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the sale, the director now owns 6,923,500 shares in the company, valued at $755,630,790. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert B. Ford sold 102,425 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the sale, the chief executive officer now owns 142,071 shares of the company’s stock, valued at approximately $14,931,662.10. The disclosure for this sale can be found here. Insiders have sold 204,788 shares of company stock valued at $21,776,756 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. Wolfe Research began coverage on shares of Abbott Laboratories in a research report on Tuesday, July 5th. They set an “underperform” rating for the company. StockNews.com upgraded shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 3rd. Royal Bank of Canada lowered their price target on shares of Abbott Laboratories from $143.00 to $132.00 in a report on Thursday, July 21st. Morgan Stanley lowered their price target on shares of Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, July 21st. Finally, Cowen lowered their price target on shares of Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $132.46.

About Abbott Laboratories

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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 Established Pharmaceutical Products segment 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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