Sandy Spring Bank raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 108,319 shares of the healthcare product maker’s stock after buying an additional 2,469 shares during the period. Sandy Spring Bank’s holdings in Abbott Laboratories were worth $4,283,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Stewart & Patten Co. LLC raised its position in Abbott Laboratories by 2.8% in the first quarter. Stewart & Patten Co. LLC now owns 236,513 shares of the healthcare product maker’s stock valued at $9,894,000 after buying an additional 6,415 shares in the last quarter. Prospera Financial Services Inc raised its position in Abbott Laboratories by 3.7% in the first quarter. Prospera Financial Services Inc now owns 9,272 shares of the healthcare product maker’s stock valued at $388,000 after buying an additional 328 shares in the last quarter. Searle & CO. raised its position in Abbott Laboratories by 3.0% in the first quarter. Searle & CO. now owns 10,479 shares of the healthcare product maker’s stock valued at $442,000 after buying an additional 310 shares in the last quarter. Bath Savings Trust Co raised its position in Abbott Laboratories by 25.2% in the first quarter. Bath Savings Trust Co now owns 67,212 shares of the healthcare product maker’s stock valued at $2,811,000 after buying an additional 13,524 shares in the last quarter. Finally, North American Management Corp raised its position in Abbott Laboratories by 2.1% in the first quarter. North American Management Corp now owns 17,258 shares of the healthcare product maker’s stock valued at $722,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 73.03% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) traded down 0.12% during trading on Friday, reaching $42.17. 2,476,850 shares of the company’s stock traded hands. The company’s 50-day moving average is $43.09 and its 200 day moving average is $41.18. The company has a market cap of $61.99 billion, a price-to-earnings ratio of 27.83 and a beta of 0.82. Abbott Laboratories has a 52-week low of $36.00 and a 52-week high of $46.38.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm earned $5.30 billion during the quarter, compared to the consensus estimate of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.46%. Abbott Laboratories’s payout ratio is 68.87%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday. Bank of America Corp. restated a “buy” rating on shares of Abbott Laboratories in a research note on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Abbott Laboratories in a research note on Monday. Jefferies Group decreased their price target on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, September 13th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $47.02.

In other news, insider Stephen R. Fussell sold 41,500 shares of Abbott Laboratories stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $45.00, for a total value of $1,867,500.00. Following the completion of the transaction, the insider now owns 196,467 shares in the company, valued at $8,841,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hubert L. Allen sold 3,400 shares of Abbott Laboratories stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $37.14, for a total transaction of $126,276.00. Following the completion of the transaction, the executive vice president now owns 91,857 shares of the company’s stock, valued at approximately $3,411,568.98. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

About Abbott Laboratories

Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.

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