Technicals Say Abbott Laboratories (ABT) Is Worth Holding


As of Wednesday close, Abbott Laboratories’s (NYSE:ABT) stock was up $1.15, moving up 1.10 percent to $106.02. The average number of shares traded per day over the past five days has been 4,109,160 shares. 5 times new highs have been achieved over the past 5 days, with a $2.41 gain in that time frame. In the last twenty days, the average volume was 5,106,185, while in the previous 50 days, it was 6,180,438.

Since last month, ABT stock rose 8.24%. Shares of the company fell to $95.35 on 11/03/22, the lowest level in the past month. A 52-week high of $142.60 was reached on 01/03/22 after having rallying from a 52-week low of $93.25. Since the beginning of this year, ABT’s stock price has dropped by -24.67% or -$34.72, and marked a new high 1 time. However, the stock has declined by -25.65% since its 52-week high.

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ABT stock investors should be aware that Abbott Laboratories (ABT) stock had its last reported insider trading activity 29 days ago on Oct 27. STARKS DANIEL J, the Director of the company, disposed of 50,000 shares for $97.46 on Oct 27. It resulted in a $4,872,932 divestment by the insider. MANNING JOSEPH J sold 23,008 shares at an average price of $107.00 on Sep 08. The insider now owns 53,245 shares following the transaction. On Aug 25, CHAIRMAN AND CEO Ford Robert B sold 102,425 shares at $105.10 apiece. The transaction was valued at $10,765,154.

Valuation Metrics

Right now, Abbott Laboratories (ABT) has a P/E ratio of about 23.81. The stock’s beta is 0.69. Besides these, the trailing price-to-sales (P/S) ratio of 4.05, the price-to-book (PB) ratio of 5.21, and the price-to-cash flow ratio of 34.72 may also be considered.

The latest dividend of $0.47 per share was paid out, remained unchanged from last year’s $0.47. On Friday December 10 2021, a $0.02 dividend increase was announced.

Financial Health

In the three months ended September 29, Abbott Laboratories’s quick ratio stood at 1.40, while its current ratio was 1.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.43, and the total debt-to-equity ratio was 0.46. On the profitability front, the trailing twelve-month gross margin is 57.20% percent. In the year ended September 29, operating margins totaled 21.00%. Based on annual data, ABT earned $24.54 billion in gross profit and brought in $43.08 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 13.50%. Return on equity (ROE) for the past 12 months was 22.00%.

In Abbott Laboratories’s quarter-end financial report for September 29, it reported total debt of $15.3 billion against cash and short-term investments of $313.0 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. ABT’s revenue fell -4.98% to $11.26 billion during the quarter, while net income inched up to $10.41 billion. While analysts expected Abbott Laboratories to report $0.94 quarterly earnings, the actual figure was $1.15 per share, beating the consensus estimate by 22.30%. During the quarter, the company generated $2.58 billion in EBITDA. The liabilities of Abbott Laboratories were 36.92 billion at the end of its most recent quarter ended September 29, and its total debt was $16.84 billion. The value of shareholders’ equity is $1.74 billion.

Technical Picture

This quick technical analysis looks at Abbott Laboratories’s (ABT) price momentum. With a historical volatility rate of 16.60%, the RSI 9-day stood at 68.97% on 23 November.

With respect to its five-day moving average, the current Abbott Laboratories price is up by +2.33% percent or $2.41. At present, ABT shares trade +7.72% above its 20-day simple moving average and -3.00% percent below its 100-day simple moving average. However, the stock is currently trading approximately +0.23% above its SMA50 and -17.59% below its SMA200.

Stochastic coefficient K was 88.86% and Stochastic coefficient D was 83.10%, while ATR was 2.20. Given the Stochastic reading of 95.64% for the 14-day period, the RSI (14) reading has been calculated as 62.68%. As of today, the MACD Oscillator reading stands at 1.14, while the 14-day reading stands at 2.43.

Analyst Ratings

Mizuho launched its rating on Abbott Laboratories (NYSE: ABT) to a Neutral in a note to investors on October 26, 2022. Abbott Laboratories (ABT) has been rated Overweight by analysts. According to 2 brokerage firms, ABT is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 4 analysts rate Abbott Laboratories stock as buy, with 13 recommending it as overweight.

With a median target price of $114.00, the current consensus forecast for the stock is $90.00 – $140.00. Based on these forecasts, analysts predict Abbott Laboratories (ABT) will achieve an average price target of $114.07.


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