Bruce & Co. Inc. Holds Stake in Abbott Laboratories (ABT)

Bruce & Co. Inc. held its stake in shares of Abbott Laboratories (NYSE:ABT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,915 shares of the healthcare product maker’s stock at the close of the 1st quarter. Abbott Laboratories makes up 2.5% of Bruce & Co. Inc.’s investment portfolio, making the stock its 15th largest position. Bruce & Co. Inc.’s holdings in Abbott Laboratories were worth $10,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. increased its holdings in Abbott Laboratories by 1.7% during the 1st quarter. Whittier Trust Co. now owns 401,048 shares of the healthcare product maker’s stock worth $17,807,000 after purchasing an additional 6,751 shares during the period. Farmers & Merchants Investments Inc. increased its holdings in Abbott Laboratories by 7.6% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 103,815 shares of the healthcare product maker’s stock worth $4,610,000 after purchasing an additional 7,309 shares during the period. Miller Howard Investments Inc. NY increased its holdings in Abbott Laboratories by 3.1% during the 1st quarter. Miller Howard Investments Inc. NY now owns 1,529,641 shares of the healthcare product maker’s stock worth $67,931,000 after purchasing an additional 46,118 shares during the period. Century Capital Management LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $4,332,000. Finally, Reik & CO. LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $215,000. Hedge funds and other institutional investors own 71.66% of the company’s stock.

In other Abbott Laboratories news, insider Hubert L. Allen sold 4,600 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now directly owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. Insiders have sold a total of 218,702 shares of company stock valued at $10,837,658 over the last three months. 0.76% of the stock is currently owned by company insiders.

Abbott Laboratories (ABT) traded up 0.63% during trading on Monday, hitting $52.35. The company’s stock had a trading volume of 1,489,229 shares. The company has a 50-day moving average of $49.78 and a 200 day moving average of $46.71. Abbott Laboratories has a one year low of $37.38 and a one year high of $52.60. The firm has a market cap of $90.96 billion, a PE ratio of 73.32 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

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Several research analysts have commented on the company. Citigroup Inc. assumed coverage on Abbott Laboratories in a report on Thursday, August 17th. They set a “neutral” rating and a $53.00 price objective on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. BidaskClub downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Finally, Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $52.50.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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