The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Abbott Laboratories shares valued at $114,116 were sold by Salvadori Daniel Gesua Sive on Mar 01 ’24. At $118.50 per share, Salvadori Daniel Gesua Sive sold 963 shares. The insider’s holdings dropped to 125,697 shares worth approximately $14.01 million following the completion of this transaction.
Also, ALLEN HUBERT L sold 853 shares, netting a total of over 101,080 in proceeds. Following the sale of shares at $118.50 each, the insider now holds 184,806 shares.
Before that, Morrone Louis H. had sold 801 shares from its account. In a trade valued at $94,918, the EXECUTIVE VICE PRESIDENT traded Abbott Laboratories shares for $118.50 each. Upon closing the transaction, the insider’s holdings decreased to 801 shares, worth approximately $7.02 million.
As published in a research note from Wolfe Research on July 21, 2023, Abbott Laboratories [ABT] has been rated up from an Underperform to a Peer perform. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in late May. As of April 20, 2023, Wolfe Research has reiterated its “an Underperform” rating for ABT. Earlier on April 20, 2023, UBS resumed its rating. Their recommendation was “a Buy” for ABT stock.
Analyzing ABT Stock Performance
During the last five days, there has been a surge of approximately 1.22%. Over the course of the year, Abbott Laboratories shares have jumped approximately 1.25%. Shares of the company reached a 52-week high of $121.64 on 03/08/24 and a 52-week low of $109.11 on 03/25/24. A 50-day SMA is recorded $114.80, while a 200-day SMA reached $106.69. Nevertheless, trading volume fell to 4.32 million shares from 3.97 million shares the previous day.
Support And Resistance Levels for Abbott Laboratories (ABT)
According to the 24-hour chart, there is a support level at 110.51, which, if violated, would cause prices to drop to 109.58. In the upper region, resistance lies at 112.18. The next price resistance is at 112.92. RSI (Relative Strength Index) is 43.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 52.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Abbott Laboratories subject to short interest?
Stocks of Abbott Laboratories saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.44 million shares to 14.48 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 14.92 million shares. A decline of -3.04% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.26 of the overall float, the days-to-cover ratio (short ratio) decline to 2.26.
