Impax Asset Management Group plc Sells 5,450 Shares of Abbott Laboratories $ABT

Impax Asset Management Group plc lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 142,173 shares of the healthcare product maker’s stock after selling 5,450 shares during the period. Impax Asset Management Group plc’s holdings in Abbott Laboratories were worth $19,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the period. Elequin Capital LP acquired a new position in Abbott Laboratories in the 1st quarter valued at $30,000. Vision Financial Markets LLC bought a new position in Abbott Laboratories in the 1st quarter worth $33,000. Accent Capital Management LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $38,000. Finally, Curio Wealth LLC boosted its holdings in Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after acquiring an additional 305 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE ABT opened at $128.83 on Thursday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market cap of $224.02 billion, a P/E ratio of 16.14, a PEG ratio of 2.36 and a beta of 0.68. The company’s 50-day simple moving average is $130.50 and its 200 day simple moving average is $131.36.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Benchmark assumed coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.