Abbott Laboratories $ABT is Bruce & Co. Inc.'s 9th Largest Position

Key Points

• Bruce & Co. Inc. reduced its stake in Abbott Laboratories by 9.8%, selling 14,500 shares, and now holds 133,800 shares worth approximately $17.7 million.
• In its latest earnings report, Abbott Laboratories met earnings estimates with an EPS of $1.26 and reported revenue of $11.14 billion, reflecting a 7.4% year-over-year increase.
• The company recently declared a $0.59 quarterly dividend, with a current yield of 1.8% and a payout ratio of 29.57%.

Bruce & Co. Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,800 shares of the healthcare product maker's stock after selling 14,500 shares during the quarter. Abbott Laboratories makes up 5.7% of Bruce & Co. Inc.'s holdings, making the stock its 9th biggest holding. Bruce & Co. Inc.'s holdings in Abbott Laboratories were worth $17,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Brighton Jones LLC boosted its holdings in Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares during the period. Quantessence Capital LLC bought a new position in Abbott Laboratories during the fourth quarter worth $496,000. MGO One Seven LLC lifted its holdings in Abbott Laboratories by 10.8% in the fourth quarter. MGO One Seven LLC now owns 22,293 shares of the healthcare product maker's stock valued at $2,522,000 after buying an additional 2,168 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock valued at $945,453,000 after acquiring an additional 6,628,310 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Up 0.3%

Shares of NYSE ABT traded up $0.4120 during mid-day trading on Friday, reaching $132.4120. 4,130,154 shares of the company's stock traded hands, compared to its average volume of 5,721,513. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The business has a 50-day simple moving average of $131.08 and a 200 day simple moving average of $131.29. The stock has a market cap of $230.46 billion, a P/E ratio of 16.59, a PEG ratio of 2.51 and a beta of 0.70. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's payout ratio is presently 29.57%.

Analyst Ratings Changes

ABT has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Morgan Stanley increased their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $144.47.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.46% 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 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.