Definitely agree. I liked all of ABT's businesses except drugs. Ever since the 90's fiasco with Clinton and his wife drug companies have not really done well. There is also the whole problem with patent expiration. I bought some ABT a while back when they were talking about the split and today sold ABBV and bought some more ABT. Drugs take a lot of time to analyze and even though I am retired I am more into energy of all types and some industrials.
My wife worked for CL many years ago and we have owned that stock continuosly for over 30 years. Sometimes down sizing and other times buying. However, the great run from 1982 to 1999 helped put my three children through high end colleges. It was like a gold mine. I think that ABT can be a medical version of CL now that the drug business has been divested. I was just looking at a comparison chart of CL and ABT and from 82 to 92 or so they did about the same and then CL pulled away.
The other nice thing is that the market cap gets pretty much cut in half and for a long term investor I think you could see this stock go up 3 or 4 times in the next 10 years and have steady dividend increases.
There was hardly anything you could have put money into from 1982 to1999 that wouldn't have done well. Sadly that era is OVER. We have a generational bear market now and very likley a complete collapse of western society. There are 20 + reason why the system will collapse and that is not even taking into account the beyond comprehension economic shocks that are still coming.