Bruce & Co. Inc. Sells 4,000 Shares of Abbott Laboratories (NYSE:ABT)

Bruce & Co. Inc. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,300 shares of the healthcare product maker’s stock after selling 4,000 shares during the quarter. Abbott Laboratories makes up about 5.4% of Bruce & Co. Inc.’s investment portfolio, making the stock its 9th largest position. Bruce & Co. Inc.’s holdings in Abbott Laboratories were worth $16,774,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $26,000. NewSquare Capital LLC raised its stake in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $29,000. Wingate Wealth Advisors Inc. bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Abbott Laboratories during the 4th quarter worth $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $126.72 on Friday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The company’s fifty day simple moving average is $128.23 and its 200-day simple moving average is $119.77. The firm has a market cap of $219.77 billion, a PE ratio of 16.56, a P/E/G ratio of 2.52 and a beta of 0.70. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. Equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.86%. Abbott Laboratories’s dividend payout ratio is 30.85%.

Analysts Set New Price Targets

A number of analysts have recently commented on ABT shares. Wells Fargo & Company upped their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Bank of America raised their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Insiders Place Their Bets

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares in the company, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 in the last 90 days. 1.10% of the stock is currently owned by insiders.

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 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.