In today’s recent session, 2,048,292 shares of the Abbott Laboratories (NYSE:ABT) have been traded, and its beta is 0.7. Most recently the company’s share price was $120.22, and it changed around $0.25 or 0% from the last close, which brings the market valuation of the company to $213.13 Billion. ABT at last check was trading at a discount to its 52-week high of $128.54, offering almost -6.92% off that amount. The share price’s 52-week low was $81.05, which indicates that the recent value has risen by an impressive 32.58% since then. We note from Abbott Laboratories’s average daily trading volume that its 10-day average is 4.92 Million shares, with the 3-month average coming to 5.25 Million.
Abbott Laboratories stock received a consensus recommendation rating of Overweight, based on a mean score of 1.8. If we narrow it down even further, the data shows that 1 out of 22 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 2 recommended ABT as a Hold, whereas 16 deemed it a Buy, and 1 rated it as Underweight. Abbott Laboratories is expected to report earnings per share of $1.27 for the current quarter.
Abbott Laboratories (NYSE:ABT): Trading Information Today
Instantly ABT has been showing a green trend so far today with a performance of 0.21% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $122.0 on Tuesday, Apr 06 increased the stock’s daily price by 1.44%. The company’s shares are currently up 0.1% year-to-date, but still up 0.0042 over the last five days. On the other hand, Abbott Laboratories (NYSE:ABT) is 0.03% up in the 30-day period. We can see from the shorts that 12.73 Million shares have been sold at a short interest cover period of 2.42 day (s).
The consensus price target as assigned by Wall Street analysts is $136.5, which translates to bears needing to increase their stock price by 13.54% from its current value. Analyst projections state that ABT is forecast to be at a low of $111 and a high of $158. In order for the stock price to hit the forecast high, the stock would need to surge +31.43% from its current level, while the stock would need to crash -7.67% from its current level to reach the projected low.
Abbott Laboratories (ABT) projections and forecasts
Abbott Laboratories share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +12.65 percent over the past six months and at a 38.9% annual growth rate that is well above the industry average of 14.7%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +95.4% in revenue this quarter, and will report an increase of 122.8% in the next quarter. The year-over-year growth rate is expected to be 22.1%, up from the previous year.
Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $10.73 Billion in revenue for the current quarter. 16 analysts expect Abbott Laboratories to make $10.65 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $7.73 Billion and $6.81 Billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 38.8%. Forecasts for the next quarter put sales growth at 56.5%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 7.8%. Abbott Laboratories earnings are expected to increase by 24.5% in 2021, but the outlook is positive 15.58% per year for the next five years.
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ABT Dividend Yield
Abbott Laboratories’s next quarterly earnings report is expected to be released around April 20, 2021. The annual dividend yield of the stock is 1.5 percent and its annual dividend per share was $1.8. It is important to note, however, that the 1.5% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.8% per year.
Abbott Laboratories (NYSE:ABT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.72% of Abbott Laboratories shares, and 75.77% of them are in the hands of institutional investors. The stock currently has a share float of 76.32%. Abbott Laboratories stock is held by 3045 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2020, it held 8.31% of the shares, which is about 147.27 Million shares worth $16.12 Billion.
Blackrock Inc., with 7.53% or 133.43 Million shares worth $14.61 Billion as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 49955714 shares worth $5.47 Billion, making up 2.82% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 35.51 Million shares worth around $3.89 Billion, which represents about 2% of the total shares outstanding.