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 $1,055,819 were sold by Funck, Jr. Robert E. on May 10 ’24. At $104.57 per share, Funck, Jr. Robert E. sold 10,097 shares. The insider’s holdings dropped to 211,341 shares worth approximately $22.39 million following the completion of this transaction.
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Also, Earnhardt Lisa D sold 22,852 shares, netting a total of over 2,428,119 in proceeds. Following the sale of shares at $106.25 each, the insider now holds 61,462 shares.
Before that, Salvadori Daniel Gesua Sive had sold 963 shares from its account. In a trade valued at $114,116, the EXECUTIVE VICE PRESIDENT traded Abbott Laboratories shares for $118.50 each. Upon closing the transaction, the insider’s holdings decreased to 963 shares, worth approximately $13.32 million.
As published in a research note from Edward Jones on July 30, 2024, Abbott Laboratories [ABT] has been rated down from a Buy to a Hold. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in late May. As of July 21, 2023, Wolfe Research has increased its “an Underperform” rating to a “Peer perform” for ABT. Earlier on May 30, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for ABT stock which previously was a “an Overweight”.
Analyzing ABT Stock Performance
During the last five days, there has been a drop of approximately -1.23%. Over the course of the year, Abbott Laboratories shares have dropped approximately -3.75%. Shares of the company reached a 52-week high of $121.64 on 03/08/24 and a 52-week low of $99.71 on 07/18/24. A 50-day SMA is recorded $103.97, while a 200-day SMA reached $106.96. Nevertheless, trading volume fell to 8.18 million shares from 8.71 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 104.05, which, if violated, would cause prices to drop to 102.16. In the upper region, resistance lies at 107.33. The next price resistance is at 108.72. RSI (Relative Strength Index) is 55.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.14, which suggests the price will increase in the coming days. Percent R is at 30.78%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
