5 Stocks Billionaire Ken Fisher May Never Sell

1. Abbott Laboratories (NYSE:ABT)

Value of Fisher Investments’ 13F Position: $1.08 billion

Number of Hedge Fund Shareholders: 69

Topping the list of stocks Ken Fisher may never sell is Abbott Laboratories (NYSE:ABT). Fisher grew his firm’s stake in the medical device company by 5% during Q1 to over 9.11 million shares. Hedge fund ownership of ABT spiked during the final quarter of 2017 and has remained relatively stable in the years since.

Abbott Laboratories (NYSE:ABT) is a powerhouse dividend stock, recently achieving the coveted dividend king title in recognition of having raised its dividend payouts every year for the past 50 consecutive years. The company hasn’t missed a quarterly dividend payment in over 100 years. ABT shares currently yield 1.78%.

Abbott Laboratories (NYSE:ABT)’s diagnostics sales received a huge boost from Covid-19, hitting $5.2 billion in the first quarter of this year, a figure which will be hard to make up for in the near-term should Covid testing shrink. The company does have a well-diversified stream of revenue however, which includes a growing nutrition segment and a strong medical devices unit which just received FDA approval for its expensive glucose monitoring system Freestyle Libre 3.

For more of the latest stock picks worth considering for your portfolio, check out 10 Dividend Stocks with Over 7% Yield and 10 Micro-Cap Stocks To Buy According To Cathie Wood.

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