We are selling 100 shares of Abbott Laboratories at roughly $110.84. Following the trade, Jim Cramer's Charitable Trust will own 700 shares of ABT, decreasing its weighting in the portfolio to 2.34% from 2.66%. We're trimming our Abbott Laboratories exposure on concerns that Wall Street will temporarily turn on diabetes device makers in reaction to Club holding Eli Lilly 's impressive new study for GLP-1 obesity drug Zepbound.
But it could take some time. Additionally, in similar thinking to our sale two weeks ago , shares of Abbott have curiously rallied more than 5% since an adverse verdict in late July in its first premature infant formula case in Missouri. We still think Abbott has lost more in market capitalization since this legal risk emerged in March than what a potential settlement could look like.
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