What’s Propelling Abbott Laboratories (ABT) to Reach 52-Week High?

June 20, 2017 - By reb123z

Investors sentiment increased to 1.01 in Q4 2016. Its up 0.05, from 0.96 in 2016Q3. It is positive, as 83 investors sold Abbott Laboratories shares while 496 reduced holdings. 103 funds opened positions while 481 raised stakes. 1.06 billion shares or 1.63% more from 1.04 billion shares in 2016Q3 were reported.
Parkside Comml Bank owns 11,469 shares for 0.19% of their portfolio. Cap Advisors Ok reported 30,614 shares. Dearborn Ptnrs Ltd Com holds 62,793 shares. Ballentine Prtn Ltd Limited Liability Company reported 0.02% in Abbott Laboratories (NYSE:ABT). Clifford Swan Investment Counsel Limited Liability Com holds 347,165 shares or 0.89% of its portfolio. Bridgewater Associate Ltd Partnership has invested 0.03% in Abbott Laboratories (NYSE:ABT). Buffington Mohr Mcneal accumulated 61,082 shares or 0.9% of the stock. 154,272 were reported by Manning & Napier Advisors Ltd Liability. Country Club Tru Na has invested 0.04% of its portfolio in Abbott Laboratories (NYSE:ABT). 3.37M are owned by California Employees Retirement Sys. 180,500 are held by Deltec Asset Management Lc. Bragg Fincl Advsrs holds 0.36% in Abbott Laboratories (NYSE:ABT) or 56,628 shares. Exxonmobil Tx holds 0.29% of its portfolio in Abbott Laboratories (NYSE:ABT) for 340,791 shares. Teacher Retirement Sys Of Texas holds 229,984 shares. Old National Commercial Bank In invested 0.58% of its portfolio in Abbott Laboratories (NYSE:ABT).

Since January 31, 2017, it had 1 insider purchase, and 20 selling transactions for $8.46 million activity. BIRD ROGER also sold $72,069 worth of Abbott Laboratories (NYSE:ABT) on Tuesday, February 28. Watkin Jared sold 552 shares worth $26,482. $14,349 worth of Abbott Laboratories (NYSE:ABT) shares were sold by NATH DEEPAK S.. ALLEN HUBERT L also sold $38,569 worth of Abbott Laboratories (NYSE:ABT) on Tuesday, February 28. On Tuesday, February 28 Warmuth Michael J sold $174,797 worth of Abbott Laboratories (NYSE:ABT) or 3,851 shares. 1,728 shares were sold by YOOR BRIAN B, worth $78,434. 93,400 Abbott Laboratories (NYSE:ABT) shares with value of $4.20M were sold by CAPEK JOHN M.

The stock of Abbott Laboratories (NYSE:ABT) hit a new 52-week high and has $52.13 target or 6.00 % above today’s $49.18 share price. The 9 months bullish chart indicates low risk for the $86.54B company. The 1-year high was reported on Jun, 20 by Barchart.com. If the $52.13 price target is reached, the company will be worth $5.19 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 498,948 shares traded. Abbott Laboratories (NYSE:ABT) has risen 15.90% since June 20, 2016 and is uptrending. It has underperformed by 0.80% the S&P500.

Analysts expect Abbott Laboratories (NYSE:ABT) to report $0.60 EPS on July, 19.They anticipate $0.05 EPS change or 9.09 % from last quarter’s $0.55 EPS. ABT’s profit would be $1.06B giving it 20.49 P/E if the $0.60 EPS is correct. After having $0.48 EPS previously, Abbott Laboratories’s analysts see 25.00 % EPS growth.

Abbott Laboratories (NYSE:ABT) Ratings Coverage

Among 17 analysts covering Abbott Laboratories (NYSE:ABT), 9 have Buy rating, 0 Sell and 8 Hold. Therefore 53% are positive. Abbott Laboratories has $90 highest and $9 lowest target. $50.58’s average target is 2.85% above currents $49.18 stock price. Abbott Laboratories had 51 analyst reports since July 24, 2015 according to SRatingsIntel. Jefferies maintained the stock with “Buy” rating in Tuesday, September 13 report. RBC Capital Markets maintained Abbott Laboratories (NYSE:ABT) rating on Thursday, January 26. RBC Capital Markets has “Outperform” rating and $46 target. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Monday, January 4. Argus Research upgraded the shares of ABT in report on Friday, February 5 to “Buy” rating. The firm earned “Buy” rating on Saturday, August 29 by Deutsche Bank. Piper Jaffray downgraded the shares of ABT in report on Thursday, April 28 to “Neutral” rating. The stock of Abbott Laboratories (NYSE:ABT) has “Outperform” rating given on Friday, January 29 by RBC Capital Markets. The rating was maintained by Jefferies on Thursday, August 4 with “Buy”. The firm has “Buy” rating by Jefferies given on Tuesday, June 14. The stock of Abbott Laboratories (NYSE:ABT) earned “Buy” rating by Jefferies on Monday, December 7.

More notable recent Abbott Laboratories (NYSE:ABT) news were published by: Realmoney.Thestreet.com which released: “Abbott Laboratories Saw a Recent Breakout” on June 12, 2017, also Finance.Yahoo.com with their article: “Abbott Laboratories Up on EPD & Buyouts, Pediatric Weak” published on June 15, 2017, Seekingalpha.com published: “Abbott Hangs On For New HeartMate Model Amid Recall” on May 31, 2017. More interesting news about Abbott Laboratories (NYSE:ABT) were released by: Nasdaq.com and their article: “Adage Capital Partners Gp Llc Buys Deere, Puma Biotechnology Inc, Abbott …” published on June 05, 2017 as well as Seekingalpha.com‘s news article titled: “This May Be The Start Of Abbott Laboratories’ Upside Trajectory For 2017” with publication date: May 30, 2017.

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The company has market cap of $86.54 billion. The Firm operates through four divisions: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. It has a 54.6 P/E ratio. The Company’s Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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