Abbott Laboratories (NYSE: ABT) is 8.48% higher on its value in year-to-date trading and has touched a low of $89.67 and a high of $120.15 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ABT stock was last observed hovering at around $118.69 in the last trading session, with the day’s gains setting it 0.71%.
Currently trading at $119.40, the stock is 4.50% and 6.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.2 million and changing 0.60% at the moment leaves the stock 13.54% off its SMA200. ABT registered 18.85% gain for a year compared to 6-month gain of 14.58%. The firm has a 50-day simple moving average (SMA 50) of $5.37 and a 200-day simple moving average (SMA200) of $20.44.
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The stock witnessed a 6.60% loss in the last 1 month and extending the period to 3 months gives it a 16.07%, and is 2.37% 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 1.53% over the week and 1.68% over the month.
Abbott Laboratories (ABT) has around 114000 employees, a market worth around $207.18B and $40.11B in sales. Current P/E ratio is 36.56 and Fwd P/E is 23.20. Profit margin for the company is 14.22%. Distance from 52-week low is 33.15% and -0.62% from its 52-week high. The company has generated returns on investments over the last 12 months (10.73%).
Abbott Laboratories quarterly earnings per share for the current quarter are estimated at $0.96 with sales reaching $9.89B over the same period.The EPS is expected to grow by 4.04% this year, but quarterly earnings will post 4.70% year-over-year. Quarterly sales are estimated to grow 11.00% in year-over-year returns.
Abbott Laboratories (ABT) Top Institutional Holders
3,532 institutions hold shares in Abbott Laboratories (ABT), with institutional investors hold 77.46% of the company’s shares. The shares outstanding are 1.73B, and float is at 1.72B with Short Float at 0.74%. Institutions hold 77.03% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 155.74 million shares valued at $16.98 billion. The investor’s holdings represent 8.97% of the ABT Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 137.15 million shares valued at $14.95 billion to account for 7.90% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 77.23 million shares representing 4.45% and valued at over $8.42 billion, while State Street Corporation holds 4.31% of the shares totaling 74.82 million with a market value of $8.16 billion.
Abbott Laboratories (ABT) Insider Activity
A total of 7 insider transactions have happened at Abbott Laboratories (ABT) in the last six months, with sales accounting for 3 and purchases happening 4 times. The most recent transaction is an insider sale by Wainer Andrea F,the company’sEXECUTIVE VICE PRESIDENT. SEC filings show that Wainer Andrea F sold 12,500 shares of the company’s common stock on Feb 23 at a price of $120.00 per share for a total of $1.5 million. Following the sale, the insider now owns 78704.0 shares.
Abbott Laboratories disclosed in a document filed with the SEC on Jan 29 that Wainer Andrea F (EXECUTIVE VICE PRESIDENT) sold a total of 42,500 shares of the company’s common stock. The trade occurred on Jan 29 and was made at $112.50 per share for $4.78 million. Following the transaction, the insider now directly holds 65027.0 shares of the ABT stock.
Still, SEC filings show that on Dec 14, Wainer Andrea F (EXECUTIVE VICE PRESIDENT) disposed off 15,000 shares at an average price of $108.00 for $1.62 million. The insider now directly holds 65,027 shares of Abbott Laboratories (ABT).
Abbott Laboratories (ABT): Who are the competitors?
The company’s main competitors (and peers) include Johnson & Johnson (JNJ) that is trading 5.04% up over the past 12 months. Rogers Corp. (ROG) that is -24.65% lower over the same period.
