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 $25.44 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 $2.16 million.
As published in their initiating research note from Oppenheimer on October 08, 2024, Abbott Laboratories [ABT] has been an Outperform and the price target has been revised to $130. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid September. As of July 30, 2024, Edward Jones has decreased its “Buy” rating to a “Hold” for ABT. Earlier on May 30, 2024, Goldman initiated 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 3.02%. Over the course of the year, Abbott Laboratories shares have jumped approximately 5.04%. 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 $112.98, while a 200-day SMA reached $110.22. Nevertheless, trading volume fell to 4.07 million shares from 4.26 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 115.10, which, if violated, would cause prices to drop to 114.57. In the upper region, resistance lies at 116.50. The next price resistance is at 117.37. RSI (Relative Strength Index) is 58.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.72, which suggests the price will increase in the coming days. Percent R is at 23.79%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
