Athena Capital Advisors LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,432 shares of the healthcare product maker’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new stake in Abbott Laboratories in the third quarter worth about $103,000. Atlantic Trust LLC purchased a new stake in Abbott Laboratories in the second quarter worth about $104,000. FNY Investment Advisers LLC purchased a new stake in Abbott Laboratories in the second quarter worth about $118,000. Fort L.P. purchased a new stake in Abbott Laboratories in the second quarter worth about $119,000. Finally, Security National Bank of SO Dak lifted its stake in Abbott Laboratories by 72.0% in the second quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock worth $128,000 after acquiring an additional 878 shares during the period. 72.30% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Andrew H. Lane sold 9,097 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total transaction of $610,499.67. Following the transaction, the insider now owns 35,576 shares in the company, valued at $2,387,505.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Sharon J. Bracken sold 1,732 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $73.35, for a total transaction of $127,042.20. Following the transaction, the senior vice president now owns 39,229 shares in the company, valued at approximately $2,877,447.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,297 shares of company stock valued at $14,018,743. Insiders own 0.74% of the company’s stock.

ABT stock opened at $72.79 on Friday. The stock has a market cap of $127.33 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 2.15 and a beta of 1.39. Abbott Laboratories has a one year low of $54.32 and a one year high of $74.15. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.65 billion. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. Analysts predict that Abbott Laboratories will post 2.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, October 12th. Abbott Laboratories’s payout ratio is 44.80%.

ABT has been the subject of a number of research reports. Cowen upped their price objective on shares of Abbott Laboratories from $72.00 to $86.00 and gave the stock an “average” rating in a research note on Friday, October 5th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th. Wells Fargo & Co upped their price objective on shares of Abbott Laboratories from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, September 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $75.22.

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About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Further Reading: Diversification in Investing

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

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