Analysts at Zacks Investment Research upgraded shares of Abbott Laboratories (NYSE: ABT) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the shares. The one-year price target of $7.39 is less than the opening price of $41.95, that has caused a fair amount of other analysts to comment on the company recently. Looking back over the last year, Abbott Laboratories stock has a high of $46.38. Stock prices sometimes get a bounce to the upside when analysts upgrade a stock.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Abbott Laboratories (NYSE: ABT) shares last traded at $41.58, a decrease of $0.10 compared to the previous closing price. Opening at $41.95, they varied from $41.58 and $42.00 throughout the day.
Abbott Laboratories (NYSE: ABT) currently has a market cap of 61.12B.
The stock’s average daily volume is 10,077,400 shares out of a total float 1,464,453,000 and some 4,867,018 shares traded hands yesterday, 31 percent lower than the norm. Trading volume is likely to increase in the next few days as swing traders often use upticks in trading volume to pinpoint large volume aggregation or circulation by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re considering.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Abbott Laboratories (NYSE: ABT) have ranged from $36.00 – 46.38, and the stock now has a 50-day MA of $43.26 and 200-day MA of $41.17. Today’s last price is 0.10% under the 52 week high of $46.38.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over a 3 year period.
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