Impax Asset Management Group plc Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Impax Asset Management Group plc lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 557,608 shares of the healthcare product maker’s stock after buying an additional 2,754 shares during the period. Impax Asset Management Group plc’s holdings in Abbott Laboratories were worth $63,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. Arlington Capital Management Inc. acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth $210,000. PDS Planning Inc grew its position in Abbott Laboratories by 10.9% during the third quarter. PDS Planning Inc now owns 115,361 shares of the healthcare product maker’s stock worth $13,152,000 after buying an additional 11,334 shares during the period. QRG Capital Management Inc. lifted its position in shares of Abbott Laboratories by 1.6% during the 3rd quarter. QRG Capital Management Inc. now owns 300,920 shares of the healthcare product maker’s stock valued at $34,308,000 after acquiring an additional 4,598 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Abbott Laboratories by 2.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 720,740 shares of the healthcare product maker’s stock worth $82,172,000 after acquiring an additional 15,537 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Abbott Laboratories by 14.6% in the 3rd quarter. National Pension Service now owns 3,212,494 shares of the healthcare product maker’s stock worth $366,256,000 after acquiring an additional 408,586 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on ABT. Barclays boosted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein increased their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Mizuho upped their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $129.67.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $117.65 on Tuesday. The firm has a market cap of $204.70 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.67 and a beta of 0.72. The firm has a fifty day moving average of $115.03 and a two-hundred day moving average of $108.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. Abbott Laboratories has a 1-year low of $92.43 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a return on equity of 20.30% and a net margin of 13.99%. Abbott Laboratories’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. As a group, research analysts anticipate that Abbott Laboratories will post 4.67 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, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $2.20 annualized dividend and a yield of 1.87%. Abbott Laboratories’s payout ratio is 66.87%.

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.