Impax Asset Management Group plc Has $19.58 Million Holdings in Abbott Laboratories (NYSE:ABT)

Impax Asset Management Group plc trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 63.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,623 shares of the healthcare product maker's stock after selling 252,428 shares during the quarter. Impax Asset Management Group plc's holdings in Abbott Laboratories were worth $19,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories in the 4th quarter worth $25,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the first quarter worth approximately $32,000. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $34,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $133.70 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The firm's 50-day simple moving average is $133.29 and its 200 day simple moving average is $128.30. The stock has a market cap of $232.61 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.55 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.77%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business's 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 transaction, the director owned 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ABT. Raymond James Financial raised their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Stifel Nicolaus boosted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Royal Bank Of Canada increased their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, Barclays upped their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.61.

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.

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