Abbott Laboratories (NYSE: ABT): Performance Report And Growth Forecast – Marketing Sentinel
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Abbott Laboratories (NYSE: ABT): Performance Report And Growth Forecast

In the last trading session, 4.15 million Abbott Laboratories (NYSE:ABT) shares changed hands as the company’s beta touched 0.65. With the company’s per share price at $127.05 changed hands at $0.43 or 0.34% during last session, the market valuation stood at $223.80B. ABT’s last price was a discount, traded about -2.09% off its 52-week high of $129.70. The share price had its 52-week low at $100.34, which suggests the last value was 21.02% up since then. When we look at Abbott Laboratories’s average trading volume, we note the 10-day average is 4.07 million shares, with the 3-month average coming to 4.81 million.

Analysts gave the Abbott Laboratories (ABT) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.90. If we narrow down to specifics, the data shows that 1 out of 24 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 3 recommended ABT as a Hold, 14 felt it is a Buy and 1 rated the stock as Underweight. Abbott Laboratories’s EPS for the current quarter is expected to be $0.93.

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Abbott Laboratories (NYSE:ABT) trade information

Instantly ABT was in green as seen at the end of in last trading. With action -1.04%, the performance over the past five days has been red. The jump to weekly highs of 129.70 on Tuesday, 09/14/21 added 0.34% to the stock’s daily price. The company’s shares are showing year-to-date upside of 16.04%, with the 5-day performance at -1.04% in the red. However, in the 30-day time frame, Abbott Laboratories (NYSE:ABT) is 3.24% up. Looking at the short shares, we see there were 14.01 million shares sold at short interest cover period of 1.77 days.

The consensus price target for the stock as assigned by Wall Street analysts is $130.31, meaning bulls need an upside of 2.5% from its current market value. According to analyst projections, ABT’s forecast low is $109.00 with $140.00 as the target high. To hit the forecast high, the stock’s price needs a -10.19% plunge from its current level, while the stock would need to tank 14.21% for it to hit the projected low.

Abbott Laboratories (ABT) estimates and forecasts

Data shows that the Abbott Laboratories share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 7.47% over the past 6 months, a 21.10% in annual growth rate that is considerably higher than the industry average of 15.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Abbott Laboratories will fall -5.10%, while the growth in revenue is estimated to hit -30.30% for the next quarter. Year-over-year growth is forecast to reach 15.10% up from the last financial year.

Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of $9.44 billion. 17 analysts are of the opinion that Abbott Laboratories’s revenue for the quarter ending Dec 2021 will be $9.7 billion. The company’s revenue for the corresponding quarters a year ago was $8.85 billion and $10.7 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 6.70%. The estimates for the next quarter sales put growth at -9.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.80%. The 2021 estimates are for Abbott Laboratories earnings to increase by 24.50%, but the outlook for the next 5-year period is at 12.53% per year.

ABT Dividends

Abbott Laboratories is expected to release its next quarterly earnings report between October 19 and October 25. The 1.42% annual yield figure for the share gives it an annual dividend of 1.80. It is important to note, however, that the 1.42% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 1.74 per year.

Abbott Laboratories (NYSE:ABT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.72% of Abbott Laboratories shares while 75.71% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.26%. There are 75.71% institutions holding the Abbott Laboratories stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 8.25% of the shares, roughly 146.57 million ABT shares worth $17.56 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.55% or 134.07 million shares worth $16.07 billion as of Mar 30, 2021.

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Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 49.94 million shares estimated at $5.99 billion under it, the former controlled 2.81% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.04% of the shares, roughly 36.28 million shares worth around $4.35 billion.

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