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

Entropy Technologies LP decreased its position in Abbott Laboratories (NYSE:ABT) by 69.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Abbott Laboratories by 5.6% in the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital International Investors raised its stake in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after purchasing an additional 5,882,780 shares in the last quarter. Swedbank AB acquired a new position in shares of Abbott Laboratories in the first quarter valued at $341,777,000. Sessa Capital IM L.P. acquired a new position in shares of Abbott Laboratories in the second quarter valued at $264,876,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Abbott Laboratories by 493.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock valued at $249,508,000 after purchasing an additional 1,996,320 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Edward Jones lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein raised their price target on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Mizuho lifted their target price on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.07.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 141,679 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares in the company, valued at $25,617,068.19. This represents a 39.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $115.05 on Friday. The stock has a fifty day moving average price of $115.45 and a 200-day moving average price of $109.39. The company has a market cap of $199.55 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $96.92 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping 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 company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Abbott Laboratories’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given 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 dividend yield of 1.91%. Abbott Laboratories’s dividend payout ratio (DPR) 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.