Abbott Laboratories (NYSE: ABT) is 9.71% higher on its value in year-to-date trading and has touched a low of $89.67 and a high of $121.64 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 $120.19 in the last trading session, with the day’s gains setting it 0.57%.
Currently trading at $120.76, the stock is 2.69% and 5.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.08 million and changing 0.47% at the moment leaves the stock 14.25% off its SMA200. ABT registered 24.55% gain for a year compared to 6-month gain of 17.87%. The firm has a 50-day simple moving average (SMA 50) of $5.43 and a 200-day simple moving average (SMA200) of $20.66.
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The stock witnessed a 8.00% loss in the last 1 month and extending the period to 3 months gives it a 15.55%, and is 1.92% 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 1.27% over the week and 1.56% over the month.
Abbott Laboratories (ABT) has around 114000 employees, a market worth around $209.54B and $40.11B in sales. Current P/E ratio is 36.98 and Fwd P/E is 23.47. Profit margin for the company is 14.22%. Distance from 52-week low is 34.67% and -0.72% 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
3,538 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 0.87%. Institutions hold 77.05% 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
The most recent transaction is an insider sale by Salvadori Daniel Gesua Sive,the company’sEXECUTIVE VICE PRESIDENT. SEC filings show that Salvadori Daniel Gesua Sive sold 963 shares of the company’s common stock on Mar 01 ’24 at a price of $118.50 per share for a total of $0.11 million. Following the sale, the insider now owns 0.13 million shares.
Abbott Laboratories disclosed in a document filed with the SEC on Mar 01 ’24 that ALLEN HUBERT L (EXECUTIVE VICE PRESIDENT) sold a total of 853 shares of the company’s common stock. The trade occurred on Mar 01 ’24 and was made at $118.50 per share for $0.1 million. Following the transaction, the insider now directly holds 0.18 million shares of the ABT stock.
Still, SEC filings show that on Mar 01 ’24, Morrone Louis H. (EXECUTIVE VICE PRESIDENT) disposed off 801 shares at an average price of $118.50 for $94918.0. The insider now directly holds 62,968 shares of Abbott Laboratories (ABT).
