Why are Institutional Investors Interested in Buying Abbott Laboratories (ABT)?

Abbott Laboratories (NYSE: ABT) is 26.05% higher on its value in year-to-date trading and has touched a low of $61.61 and a high of $115.14 in the current 52-week trading range. The ABT stock was last observed hovering at around $108.44 in the last trading session, with the day’s gains setting it 1.05% off its average median price target of $122.00 for the next 12 months. It is also 15.78% off the consensus price target high of $130.00 offered by 21 analysts, but current levels are 1.36% higher than the price target low of $111.00 for the same period.

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Currently trading at $109.49, the stock is 1.69% and 0.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.88 million and changing 0.97% at the moment leaves the stock 10.78% off its SMA200. ABT registered 25.92% gain for a year compared to 6-month gain of 18.71%. The firm has a 50-day simple moving average (SMA 50) of $108.41 and a 200-day simple moving average (SMA200) of $103.98.

The stock witnessed a 0.92% loss in the last 1 month and extending the period to 3 months gives it a 0.78%, and is 1.90% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.35% over the week and 1.60% over the month.

Abbott Laboratories (ABT) has around 107000 employees, a market worth around $192.19B and $32.22B in sales. Current P/E ratio is 58.24 and Fwd P/E is 24.86. Profit margin for the company is 10.50%. Distance from 52-week low is 77.71% and -4.91% from its 52-week high. The company has generated returns on investments over the last 12 months (8.20%).

Abbott Laboratories (ABT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Abbott Laboratories (ABT) is a “Overweight”. 21 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 2 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Abbott Laboratories is expected to release its quarterly report on 04/21/2021 and quarterly earnings per share for the current quarter are estimated at $1.35 with sales reaching $9.95B over the same period.The EPS is expected to grow by 45.20% this year, but quarterly earnings will post 6.20% year-over-year. Quarterly sales are estimated to grow 19.70% in year-over-year returns.

Abbott Laboratories (ABT) Top Institutional Holders

2,863 institutions hold shares in Abbott Laboratories (ABT), with 12.28M shares held by insiders accounting for 0.69% while institutional investors hold 76.11% of the company’s shares. The shares outstanding are 1.77B, and float is at 1.76B with Short Float at 0.50%. Institutions hold 75.58% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 148.16 million shares valued at $16.12 billion. The investor’s holdings represent 8.36% of the ABT Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 135.02 million shares valued at $14.69 billion to account for 7.62% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 87.41 million shares representing 4.93% and valued at over $9.51 billion, while State Street Corporation holds 4.16% of the shares totaling 73.67 million with a market value of $8.02 billion.

Abbott Laboratories (ABT) Insider Activity

The most recent transaction is an insider sale by NOVAKOVIC PHEBE N, the company’s Director. SEC filings show that NOVAKOVIC PHEBE N sold 4,790 shares of the company’s common stock on Dec 04 at a price of $107.28 per share for a total of $0.51 million. Following the sale, the insider now owns 41004.0 shares.

Abbott Laboratories disclosed in a document filed with the SEC on Oct 26 that Funck Robert E (Executive Vice President & CFO) sold a total of 83,333 shares of the company’s common stock. The trade occurred on Oct 26 and was made at $108.83 per share for $9.07 million. Following the transaction, the insider now directly holds 0.18 million shares of the ABT stock.

Still, SEC filings show that on Sep 30, Wainer Andrea F (Executive Vice President) disposed off 30,000 shares at an average price of $107.01 for $3.21 million. The insider now directly holds 44,080 shares of Abbott Laboratories (ABT).

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Abbott Laboratories (ABT): Who are the competitors?

The company’s main competitors (and peers) include Thermo Fisher Scientific Inc. (TMO) that is trading 42.72% up over the past 12 months. Johnson & Johnson (JNJ) is 7.82% up on the 1-year trading charts. Short interest in the company’s stock has fallen -33.45% from the last report on Nov 12, 2020 to stand at a total of 11.85 million short shares sold with a short interest ratio of 1.83.

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