Sandy Spring Bank boosted its stake in Abbott Laboratories (NYSE:ABT) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,327 shares of the healthcare product maker’s stock after purchasing an additional 4,693 shares during the period. Abbott Laboratories makes up approximately 1.0% of Sandy Spring Bank’s holdings, making the stock its 21st largest position. Sandy Spring Bank’s holdings in Abbott Laboratories were worth $11,970,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ABT. Chesapeake Wealth Management boosted its stake in shares of Abbott Laboratories by 26.9% during the 2nd quarter. Chesapeake Wealth Management now owns 21,545 shares of the healthcare product maker’s stock worth $1,812,000 after acquiring an additional 4,565 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Abbott Laboratories by 180.0% during the 2nd quarter. Advisory Services Network LLC now owns 49,698 shares of the healthcare product maker’s stock worth $4,180,000 after acquiring an additional 31,949 shares during the last quarter. Coastal Investment Advisors Inc. boosted its stake in shares of Abbott Laboratories by 17.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 6,044 shares of the healthcare product maker’s stock worth $505,000 after acquiring an additional 880 shares during the last quarter. ELCO Management Co. LLC boosted its stake in shares of Abbott Laboratories by 1.1% during the 2nd quarter. ELCO Management Co. LLC now owns 18,605 shares of the healthcare product maker’s stock worth $1,565,000 after acquiring an additional 200 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Abbott Laboratories by 44.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 3,830 shares of the healthcare product maker’s stock worth $322,000 after acquiring an additional 1,183 shares during the last quarter. 73.42% of the stock is owned by institutional investors and hedge funds.

NYSE ABT traded down $1.95 on Wednesday, reaching $84.94. The company had a trading volume of 169,660 shares, compared to its average volume of 5,655,848. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. The stock has a market cap of $153.09 billion, a PE ratio of 29.41, a PEG ratio of 2.44 and a beta of 1.12. The stock’s 50 day moving average is $85.76. Abbott Laboratories has a 12 month low of $63.07 and a 12 month high of $88.76.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. Abbott Laboratories’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. Equities research analysts expect that Abbott Laboratories will post 3.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.32 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.51%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

A number of research firms recently weighed in on ABT. Wells Fargo & Co lifted their target price on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. BMO Capital Markets lifted their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Bank of America restated a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 13th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Cowen lifted their target price on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $85.82.

In other Abbott Laboratories news, CFO Brian B. Yoor sold 43,763 shares of Abbott Laboratories stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $85.77, for a total value of $3,753,552.51. Following the sale, the chief financial officer now directly owns 125,781 shares in the company, valued at approximately $10,788,236.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction on Friday, August 9th. The shares were sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the completion of the sale, the senior vice president now owns 104,228 shares in the company, valued at $9,004,256.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 885,102 shares of company stock worth $71,110,429. 0.70% of the stock is currently owned by insiders.

Abbott Laboratories Profile

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

Read More: How a Strangle Strategy is different from a Straddle Strategy

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.