Abbott Laboratories [ABT] Stock trading around $112.43 per share: What’s Next?

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Abbott Laboratories [NYSE: ABT] stock went on a downward path that fall over -0.35% on Tuesday, amounting to a one-week price decrease of less than -3.88%. The company report on May 2, 2022 that The Grandmasters of Virus Surveillance.

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Over the last 12 months, ABT stock dropped by -4.35%. The one-year Abbott Laboratories stock forecast points to a potential upside of 20.69. The average equity rating for ABT stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $206.15 billion, with 1.77 billion shares outstanding and 1.75 billion shares in the current float. Compared to the average trading volume of 5.39M shares, ABT stock reached a trading volume of 4489732 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Abbott Laboratories [ABT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABT shares is $141.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABT stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Abbott Laboratories shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 02, 2022. While these analysts kept the previous recommendation, UBS raised their target price from $138 to $142. The new note on the price target was released on January 27, 2022, representing the official price target for Abbott Laboratories stock. Previously, the target price had yet another drop from $150 to $143, while Raymond James kept a Outperform rating on ABT stock. On January 27, 2022, analysts decreased their price target for ABT shares from 157 to 151.

The Average True Range (ATR) for Abbott Laboratories is set at 2.91, with the Price to Sales ratio for ABT stock in the period of the last 12 months amounting to 4.63. The Price to Book ratio for the last quarter was 5.56, with the Price to Cash per share for the same quarter was set at 5.59. Price to Free Cash Flow for ABT in the course of the last twelve months was 32.88 with Quick ratio for the last quarter at 1.50.

ABT Stock Performance Analysis:

Abbott Laboratories [ABT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.88. With this latest performance, ABT shares dropped by -5.19% in over the last four-week period, additionally sinking by -12.80% over the last 6 months – not to mention a drop of -4.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABT stock in for the last two-week period is set at 36.53, with the RSI for the last a single of trading hit 31.52, and the three-weeks RSI is set at 39.36 for Abbott Laboratories [ABT]. The present Moving Average for the last 50 days of trading for this stock 118.91, while it was recorded at 114.70 for the last single week of trading, and 124.65 for the last 200 days.

Insight into Abbott Laboratories Fundamentals:

Abbott Laboratories’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.80.

ABT Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Abbott Laboratories go to 11.53%.

Abbott Laboratories [ABT] Insider Position Details

There are presently around $146,655 million, or 75.20% of ABT stock, in the hands of institutional investors. The top three institutional holders of ABT stocks are: VANGUARD GROUP INC with ownership of 149,152,264, which is approximately 0.25% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 137,155,602 shares of the stock with an approximate value of $15.48 billion in ABT stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $9.49 billion in ABT stock with ownership of nearly -0.388% of the company’s market capitalization.

Positions in Abbott Laboratories stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,316 institutional holders increased their position in Abbott Laboratories [NYSE:ABT] by around 44,426,873 shares. Additionally, 1,147 investors decreased positions by around 52,389,381 shares, while 406 investors held positions by with 1,202,973,777 shares. The mentioned changes placed institutional holdings at 1,299,790,031 shares, according to the latest SEC report filing. ABT stock had 252 new institutional investments in for a total of 5,293,540 shares, while 119 institutional investors sold positions of 4,980,344 shares during the same period.