The Vanguard Group, Inc. has recently announced that it has increased stake in Abbott Laboratories (NYSE:ABT) by 0.88%. After grabbing 145.54 million shares, the institutional investor is now in possession of 1.27 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.31% having worth around $14.4 billion. Moreover, SSgA Funds Management, Inc. increased its share by 73640.0 to have a control over 73.79 million shares. And Capital Research & Management Co raised its holdings to 0.27 million shares by acquiring 50.52 million shares or 2.89% of the stake.
Abbott Laboratories (ABT) concluded trading on 11/17/22 at a closing price of $102.56, with 3.33 million shares of worth about $341.78 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -8.79% during that period and on Thursday the price saw a loss of about -1.01%. Currently the company’s common shares owned by public are about 1.75B shares, out of which, 1.73B shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 24 analysts are covering the ABT stock and their offered price forecasts bring an average price target of $114.07. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $140.00 and could fall to a lowest price of $90.00. The stock’s current price level is 11.87% above of average price target set by the analysts, while a rise to estimated low would result in loss of -13.96% for the stock. However, touching the estimated high of $140.00 would mean a gain of 26.74% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 135 times over the past 12 months. They bought 942,162 shares in 55 of the transactions. In 80 selling transactions, insiders dumped 883,529 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and American Funds Investment Company are the top 3 mutual funds which are holding stakes in Abbott Laboratories Vanguard Total Stock Market Index is currently holding 52.3 million shares of worth totaling $5.17 billion. The company recently came buying 0.37 million shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard 500 Index Fund bought 0.32 million shares, after which its hold over company’s outstanding shares expand to 2.27%, leaving 39.68 million shares with the mutual fund that have a worth of about $3.93 billion. American Funds Investment Company, after buying 22.46 million shares, have now control over 1.28% of the stake in the company. It holds 0.0 shares of worth $2.22 billion.
Abbott Laboratories (NYSE: ABT) started trading at $102.67, below -$0.94 from concluding price of the previous day. However, the stock later moved at a day high price of 103.09, or with a loss of -1.01%. Stock saw a price change of -1.60% in past 5 days and over the past one month there was a price change of 4.54%. Year-to-date (YTD), ABT shares are showing a performance of -27.13% which decreased to -20.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $93.25 but also hit the highest price of $142.60 during that period. The average intraday trading volume for Abbott Laboratories shares is 5.93 million. The stock is currently trading 3.19% above its 20-day simple moving average (SMA20), while that difference is up 1.40% for SMA50 and it goes to -7.38% lower than SMA200.
The Vanguard Group, Inc. acquired 145.54 million shares of Abbott Laboratories having value of about $14.4 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.27 million shares in the company valued at close to $129927520.64, or have control over 0.88% stake in the company. Abbott Laboratories (NYSE: ABT) currently have 1.75B outstanding shares and institutions hold larger chunk of about 76.40% of that. Holding of mutual funds in the company is about 4.23% while other institutional holders and individual stake holders have control over 41.82% and 33.42% of the stake respectively.
The stock has a current market capitalization of $179.06B and its 3Y-monthly beta is at 0.69. PE ratio of stock for trailing 12 months is 23.04, while it has posted earnings per share of $4.45 in the same period. Its PEG reads 2.78 and has Quick Ratio of 1.40 while making debt-to-equity ratio of 0.46. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ABT, volatility over the week remained 1.95% while standing at 2.06% over the month.
Analysts are in expectations that Abbott Laboratories (ABT) stock would likely to be making an EPS of $0.91 in the current quarter, while forecast for next quarter EPS is $1 and it is $4.38 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.87 which is $1.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 57.00% while it is estimated to decrease by -16.06% in next year. EPS is likely to shrink at an annualized rate of 8.30% for next 5-years, compared to annual growth of 40.70% made by the stock over the past 5-years.
Analysts at 24 brokerage firms have issued recommendations for the Abbott Laboratories (ABT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 24 Wall Street analysts, 13 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Mizuho on October 26, 2022 offering a Neutral rating for the stock and assigned a target price of $105 to it. Coverage by Barclays stated Abbott Laboratories (ABT) stock as an Overweight in their note to investors on October 18, 2022, suggesting a price target of $118 for the stock. On October 12, 2022, Jefferies Initiated their recommendations, while on July 06, 2022, Wolfe Research Initiated their ratings for the stock with a price target of $95. Stock get a Buy rating from BofA Securities on March 02, 2022.