Jim Cramer's Charitable Trust announced its decision to sell 25 shares of Abbott Laboratories, a move designed to capitalize on the company's strong performance. The shares are being sold at approximately $137.27 each. Following this transaction, the trust will retain 575 shares of Abbott, resulting in a slight decrease in Abbott's portfolio weighting from 2.4% to 2.3%.
Abbott Laboratories has demonstrated remarkable resilience amidst a broader market downturn. While the S&P 500 has declined by more than 3% this week, Abbott's shares have only dipped by about half a percent, showcasing its relative immunity to market volatility. With year-to-date gains standing at around 21%, Abbott remains one of the top-performing stocks in the index this year.
The decision to sell is part of a strategy to secure gains from Abbott's strong performance. Jim Cramer emphasized a cautious approach towards rotating into health-care stocks, acknowledging that market sentiment could quickly shift if economic data improves or trade tensions ease.
Cramer's Charitable Trust adheres to a disciplined trading process. Subscribers to the CNBC Investing Club with Jim Cramer receive a trade alert prior to any trade execution. Cramer then waits 45 minutes after sending this alert before buying or selling any stock, and further waits 72 hours after issuing a trade alert on CNBC TV before executing the trade.