BlackRock Fund Advisors has recently announced that it has increased stake in Abbott Laboratories (NYSE:ABT) by 1.96%. After grabbing 89.35 million shares, the institutional investor is now in possession of 1.72 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.15% having worth around $9.32 billion. Moreover, Capital Research & Management Co increased its share by 1.84 million to have a control over 79.06 million shares. And Capital Research & Management Co raised its holdings to 3.66 million shares by acquiring 62.84 million shares or 3.62% of the stake.
Abbott Laboratories (ABT) concluded trading on 01/10/24 at a closing price of $114.40, with 4.67 million shares of worth about $533.85 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.07% during that period and on Wednesday the price saw a gain of about 1.48%. Currently the company’s common shares owned by public are about 1.74B shares, out of which, 1.72B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 25 analysts are covering the ABT stock and their offered price forecasts bring an average price target of $118.92. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $135.00 and could fall to a lowest price of $100.00. The stock’s current price level is 3.8% above of average price target set by the analysts, while a rise to estimated low would result in loss of -14.4% for the stock. However, touching the estimated high of $135.00 would mean a gain of 15.26% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 94 times over the past 12 months. They bought 388,626 shares in 39 of the transactions. In 55 selling transactions, insiders dumped 343,931 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Investment Company are the top 3 mutual funds which are holding stakes in Abbott Laboratories Vanguard Total Stock Market ETF is currently holding 54.41 million shares of worth totaling $5.67 billion. The company recently came buying 77712.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 0.19 million shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 41.9 million shares with the mutual fund that have a worth of about $4.37 billion. American Funds Investment Company, after selling 22.63 million shares, have now control over 1.30% of the stake in the company. It holds 41210.0 shares of worth $2.36 billion.
Abbott Laboratories (NYSE: ABT) started trading at $113.05, above $0.32 from concluding price of the previous day. However, the stock later moved at a day high price of 114.41, or with a gain of 1.48%. Stock saw a price change of 4.46% in past 5 days and over the past one month there was a price change of 9.46%. Year-to-date (YTD), ABT shares are showing a performance of 3.93% which increased to 2.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $89.67 but also hit the highest price of $115.83 during that period. The average intraday trading volume for Abbott Laboratories shares is 6.00 million. The stock is currently trading 4.80% above its 20-day simple moving average (SMA20), while that difference is up 10.80% for SMA50 and it goes to 10.11% higher than SMA200.
BlackRock Fund Advisors acquired 89.35 million shares of Abbott Laboratories having value of about $9.32 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 1.72 million shares in the company valued at close to $196792596.0, or have control over 1.96% stake in the company. Abbott Laboratories (NYSE: ABT) currently have 1.74B outstanding shares and institutions hold larger chunk of about 75.67% of that. Holding of mutual funds in the company is about 4.27% while other institutional holders and individual stake holders have control over 42.35% and 33.65% of the stake respectively.
The stock has a current market capitalization of $198.61B and its 3Y-monthly beta is at 0.74. PE ratio of stock for trailing 12 months is 38.88, while it has posted earnings per share of $2.94 in the same period. It has Quick Ratio of 1.23 while making debt-to-equity ratio of 0.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ABT, volatility over the week remained 1.30% while standing at 1.26% over the month.
Analysts are in expectations that Abbott Laboratories (ABT) stock would likely to be making an EPS of $1.19 in the current quarter, while forecast for next quarter EPS is $1 and it is $4.63 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.18 which is $1.2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.03 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -16.92% while it is estimated to increase by 4.22% in next year. EPS is likely to shrink at an annualized rate of -2.00% for next 5-years, compared to annual growth of 71.02% made by the stock over the past 5-years.
Analysts at 25 brokerage firms have issued recommendations for the Abbott Laboratories (ABT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 25 Wall Street analysts, 12 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
