Bruce & Co. Inc. decreased its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 166,843 shares of the healthcare product maker’s stock after selling 757 shares during the period. Abbott Laboratories comprises about 4.6% of Bruce & Co. Inc.’s investment portfolio, making the stock its 11th biggest holding. Bruce & Co. Inc.’s holdings in Abbott Laboratories were worth $16,895,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its stake in Abbott Laboratories by 104,649.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock valued at $3,320,866,000 after acquiring an additional 30,218,560 shares during the period. Norges Bank acquired a new position in Abbott Laboratories during the 4th quarter valued at approximately $1,893,715,000. Wellington Management Group LLP grew its stake in Abbott Laboratories by 40.5% during the 1st quarter. Wellington Management Group LLP now owns 20,820,152 shares of the healthcare product maker’s stock worth $2,108,249,000 after buying an additional 6,003,997 shares during the last quarter. Morgan Stanley lifted its stake in Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after buying an additional 4,886,954 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Abbott Laboratories by 83.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare product maker’s stock valued at $582,924,000 after acquiring an additional 2,235,314 shares during the period. 73.70% of the stock is owned by institutional investors.
Abbott Laboratories Stock Performance
Abbott Laboratories stock remained flat at $100.67 on Friday. The company’s stock had a trading volume of 482,544 shares, compared to its average volume of 4,899,449. The company’s fifty day moving average is $106.80 and its two-hundred day moving average is $105.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a market capitalization of $174.70 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 4.54 and a beta of 0.68. Abbott Laboratories has a one year low of $93.25 and a one year high of $115.83.
Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. Abbott Laboratories had a net margin of 12.83% and a return on equity of 20.50%. The business had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.71 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. As a group, equities analysts forecast that Abbott Laboratories will post 4.4 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have issued reports on ABT. Wolfe Research raised shares of Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 21st. Mizuho upped their price objective on Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 21st. StockNews.com initiated coverage on shares of Abbott Laboratories in a report on Thursday, August 17th. They set a “buy” rating for the company. Barclays raised their target price on shares of Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $112.00 target price on shares of Abbott Laboratories in a report on Friday, July 21st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.82.
Check Out Our Latest Report on Abbott Laboratories
Insiders Place Their Bets
In related news, EVP Andrea F. Wainer sold 10,400 shares of Abbott Laboratories stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total value of $1,092,312.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $6,829,785.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total value of $1,092,312.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $6,829,785.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $113.76, for a total value of $5,688,000.00. Following the sale, the director now directly owns 6,775,316 shares of the company’s stock, valued at $770,759,948.16. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
About Abbott Laboratories
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 Established Pharmaceutical Products segment 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.
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