McGlone Suttner Wealth Management Inc. Sells 117 Shares of Abbott Laboratories (NYSE:ABT)

McGlone Suttner Wealth Management Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,881 shares of the healthcare product maker’s stock after selling 117 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Abbott Laboratories were worth $1,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC boosted its stake in Abbott Laboratories by 5.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 17,091 shares of the healthcare product maker’s stock valued at $1,933,000 after buying an additional 906 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of 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 purchasing an additional 4,755 shares in the last quarter. Sustainable Insight Capital Management LLC bought a new stake in Abbott Laboratories in the fourth quarter worth $6,312,000. Cerro Pacific Wealth Advisors LLC raised its stake in Abbott Laboratories by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 20,065 shares of the healthcare product maker’s stock valued at $2,288,000 after purchasing an additional 120 shares in the last quarter. Finally, Red Door Wealth Management LLC lifted its position in Abbott Laboratories by 3.9% during the fourth quarter. Red Door Wealth Management LLC now owns 7,734 shares of the healthcare product maker’s stock valued at $875,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABT. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus lifted their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Abbott Laboratories Trading Up 4.6 %

Shares of Abbott Laboratories stock opened at $123.17 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $123.23. The firm’s 50 day simple moving average is $114.91 and its two-hundred day simple moving average is $113.08. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $213.62 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.50 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11,029,400 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Analysts predict that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 30.85%.

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.