5 New Stock Picks of Billionaire Paul Tudor Jones

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In this article, we discuss 5 new stock picks of billionaire Paul Tudor Jones. If you want to see more new additions to his portfolio, click 10 New Stock Picks of Billionaire Paul Tudor Jones.

5. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 68

Abbott Laboratories (NYSE:ABT) was founded in 1888 and is based in North Chicago, Illinois. It is a healthcare company operating via Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices segments. Paul Tudor Jones added Abbott Laboratories (NYSE:ABT) to his Q1 holdings by purchasing 93,944 shares of the company, worth $11.1 million. 

On April 20, Abbott Laboratories (NYSE:ABT) posted its Q1 results, announcing an EPS of $1.73, beating market estimates by $0.27. The revenue of $11.90 billion also outperformed Street estimates by $898.71 million. Abbott Laboratories (NYSE:ABT) is a reliable dividend king, with consistent dividend increases stretching back 50 years. 

Citi analyst Joanne Wuensch on May 17 lowered the price target on Abbott Laboratories (NYSE:ABT) to $125 from $154 and reaffirmed a Buy rating on the shares. As per the analyst, market multiples are shrinking due to soaring inflation, slowing growth, and higher interest rates. The fate of medical technology firms amid the current market remains uncertain, Wuensch told investors. 

According to Insider Monkey’s Q1 data, Abbott Laboratories (NYSE:ABT) was found in 68 hedge fund portfolios, compared to 64 funds in the preceding quarter. Ken Fisher’s Fisher Asset Management is the biggest shareholder of the company, with more than 9 million shares exceeding $1 billion in value. 

Here is what Richie Capital Group has to say about Abbott Laboratories (NYSE:ABT) in its Q4 2021 investor letter: 

“Abbott Labs (ABT – up 20.08%) – Abbott Labs continues to benefit from resurging demand for Covid testing kits. The company is planning to increase their monthly production of BinaxNOW athome rapid tests to 100M a month, a 43% increase from current levels.”

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