Impax Asset Management Group plc Sells 252,428 Shares of Abbott Laboratories (NYSE:ABT)

Impax Asset Management Group plc decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 63.1% in the 1st quarter, Holdings Channel reports. The fund 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 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ABT. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $25,000. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $29,000. Wormser Freres Gestion bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories in the first quarter worth about $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company’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 completion of the transaction, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $133.70 on Friday. The company has a 50 day simple moving average of $133.29 and a two-hundred day simple moving average of $128.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The firm has a market cap of $232.61 billion, a P/E ratio of 17.34, a PEG ratio of 2.55 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABT. Bank of America upped their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Morgan Stanley increased their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Wells Fargo & Company boosted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Raymond James Financial increased their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada boosted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $142.61.

Abbott Laboratories Company 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.