Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Abbott Laboratories shares valued at $16,859,675 were purchased by Hubert L. Allen on Jan 29 ’25. At $128.35 per share, Hubert L. Allen acquired 131,360 shares.
Also, Funck, Jr. Robert E. purchased 15,000 shares, netting a total of over 1,800,000 in proceeds.
Before that, ALLEN HUBERT L had sold 157,421 shares from its account. In a trade valued at $18,424,298, the EXECUTIVE VICE PRESIDENT traded Abbott Laboratories shares for $117.04 each. Upon closing the transaction, the insider’s holdings decreased to 157,421 shares, worth approximately $23.63 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 8.56%. Over the course of the year, Abbott Laboratories shares have jumped approximately 13.04%. Shares of the company reached a 52-week high of $129.85 on 01/28/25 and a 52-week low of $110.86 on 01/15/25. A 50-day SMA is recorded $116.09, while a 200-day SMA reached $111.03. Nevertheless, trading volume fell to 7.61 million shares from 11.95 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 127.23, which, if violated, would cause prices to drop to 126.59. In the upper region, resistance lies at 128.90. The next price resistance is at 129.93. RSI (Relative Strength Index) is 73.45 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.74, which suggests the price will increase in the coming days. Percent R is at 10.48%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
