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 $18,424,298 were sold by ALLEN HUBERT L on Oct 21 ’24. At $117.04 per share, ALLEN HUBERT L sold 157,421 shares. The insider’s holdings dropped to 184,806 shares worth approximately $21.54 million following the completion of this transaction.
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Also, ALLEN HUBERT L purchased 157,421 shares, netting a total of over 18,715,783 in proceeds.
Before that, Ford Robert B had sold 141,679 shares from its account. In a trade valued at $16,493,218, the CHAIRMAN AND CEO traded Abbott Laboratories shares for $116.41 each. Upon closing the transaction, the insider’s holdings decreased to 141,679 shares, worth approximately $25.65 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 drop of approximately -1.15%. Over the course of the year, Abbott Laboratories shares have jumped approximately 5.88%. 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 $114.52, while a 200-day SMA reached $110.54. Nevertheless, trading volume fell to 3.75 million shares from 3.66 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 116.03, which, if violated, would cause prices to drop to 115.52. In the upper region, resistance lies at 117.23. The next price resistance is at 117.92. RSI (Relative Strength Index) is 54.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 41.12%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
