Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Abbott Laboratories shares valued at $16,493,218 were sold by Ford Robert B on Sep 12 ’24. At $116.41 per share, Ford Robert B sold 141,679 shares. The insider’s holdings dropped to 220,059 shares worth approximately $24.7 million following the completion of this transaction.
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Also, Robert B. Ford purchased 141,679 shares, netting a total of over 16,492,852 in proceeds.
Before that, MCCOY JOHN A. JR. had sold 27 shares from its account. In a trade valued at $3,100, the VICE PRESIDENT traded Abbott Laboratories shares for $114.83 each. Upon closing the transaction, the insider’s holdings decreased to 27 shares, worth approximately $2.1 million.
As published in their initiating research note from Piper Sandler on September 19, 2024, Abbott Laboratories [ABT] has been an Overweight and the price target has been revised to $131. Analysts at Edward Jones downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late July. As of May 30, 2024, Goldman has initiated its “Buy” rating for ABT. Earlier on July 21, 2023, Wolfe Research upgraded its rating. Their new recommendation was “a Peer perform” for ABT stock which previously was a “an Underperform”.
Analyzing ABT Stock Performance
During the last five days, there has been a drop of approximately -0.44%. Over the course of the year, Abbott Laboratories shares have jumped approximately 1.96%. 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 $112.08, while a 200-day SMA reached $110.06. Nevertheless, trading volume fell to 3.42 million shares from 3.45 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 111.51, which, if violated, would cause prices to drop to 110.79. In the upper region, resistance lies at 113.23. The next price resistance is at 114.23. RSI (Relative Strength Index) is 44.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.99, which suggests the price will decrease in the coming days. Percent R is at 93.48%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
