I blame the Abbott Precipitous decline on it's CEO as well as other top echelon people. We who have nothing else in our 401K other than Abbott stock which we have accumulated over so many years, are losing our shirt because of the jerks at the top; damn you pieces of garbage for ruining our future. Get you acts together and fix the problem.
I worked for Abbott for ten years and every pay period we were buying ABT stock as part of our 401K plan. Most recently, I was stupid enough to buy on my own 200 shares of it at $47/share after it diped $2 to $2.5 after they laid off 700 people. I was really proud that I bought it at a bargain (stupid me). I will pray that it goes back up again; I'm just sick of it; stupid company,stupid people. The biggest idiot is me obviously.
Wise investors tend to diversify their 401K portfolios. Abbott's relationship with Putnam offers 7-10 other mutual fund and/or money market fund investment choices.
I believe, like a couple other here, that ABT will recover to mid 40's within a couple months. When that happens, you should seriously consider diversifying.
To paraphrase Edward R. Murrow (who was paraphrasing Shakespeare).... " the fault lies not with the Miles or the BOD, but with yourself...."
No, no, no.... sell now. If you want to keep a bit for old times sake, fine. Give it up and move on. You have absolutely no business trying to time the market for ABT (or anything else probably). So it goes back to 40 something you still own ABT!
This may sound mean but you are losing your shirt because of your decision to keep on buying ABT. Not Miles etc.
I'm not a participant either. Guess you'll need to find someone who can carry out your query. By the way, the Abbott 401K plan has no only four Putnam funds -- the other 9 are Vanguard, Dodge and Cox, and American Funds. You can find the prospectus online -- publicly viewable - at https://literature.putnam.com/dc_literature/pdf/224490_Abbott_G2.pdf
My colleagues who are in the plan tell me that they average less than 25% ABT, and many they know keep ABT below 10%, especially as they approach retirement age.
I just posted the link to the guide in my reply to Kiki.
According to the book, Abbott matches 5% of salary for a minimum of 2% contribution (that's 250% match - damn, that's good!) The match goes to the same investments as those chosen for the employees money.