Entropy Technologies LP Has $611,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Entropy Technologies LP lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 69.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,362 shares of the healthcare product maker's stock after selling 12,187 shares during the quarter. Entropy Technologies LP's holdings in Abbott Laboratories were worth $611,000 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. Unique Wealth Strategies LLC acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $28,000. Future Financial Wealth Managment LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth $31,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker's stock worth $33,000 after acquiring an additional 127 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $32,000. Finally, Highline Wealth Partners LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth about $37,000. Institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on ABT shares. UBS Group raised their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Piper Sandler raised their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Edward Jones lowered Abbott Laboratories from a "buy" rating to a "hold" rating in a research report on Tuesday, July 30th. Finally, Citigroup raised their price objective on Abbott Laboratories from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $130.07.

Insiders Place Their Bets

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $116.41, for a total value of $16,492,852.39. Following the transaction, the chief executive officer now directly owns 220,059 shares of the company's stock, valued at $25,617,068.19. The trade was a 39.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company's stock.

Abbott Laboratories Stock Up 0.8 %

NYSE:ABT traded up $0.87 during trading hours on Friday, reaching $115.90. The company's stock had a trading volume of 6,873,094 shares, compared to its average volume of 5,701,520. Abbott Laboratories has a one year low of $97.64 and a one year high of $121.64. The business's 50-day moving average is $115.49 and its 200-day moving average is $109.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The company has a market cap of $201.02 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period last year, the business earned $1.14 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories's payout ratio is presently 66.87%.

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.