LORD, ABBETT & CO. LLC recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Lord, Abbett & Co. was founded in 1929 and is headquartered in Jersey City. The company was begun just after the stock market crash of 1929 when Andrew James Lord and associates incorporated the company as Lord, Westerfield & Co., believing that mutual funds should be its company’s focus. Leon Abbet provided the capital contribution for the firm to continue when Westerfield resigned from the company, and the company would be renamed to its current Lord, Abbett & Co. in 1933. The company would launch the American Business Shares trust, now known as the Lord Abbet Income Fund, and the Lord Abbet Aflliated Fund in the 1930s, which would become its longest running funds. Lord, Abbett & Co. would grow organically with the leadership positions being passed to Harry Prankard II in 1949, who lead and expansion in the investment industry, and Robert Driscoll in 1964. During the 1970s, the company would expand its mutual fund offerings and launch its institutional business. The company would move its headquarters first in 1987 to the General Motors Building in New York, expanding further on its mutual funds and growing as an institutional investment firm, and move a second time in 2000 to keep up with further growth. In 2007, the firm’s leadership would be passed on to Daria Foster, who became the firm’s ninth Managing Partner. Lord, Abbett & Co. currently has 59 partners and a total of over 750 employees, 120 of which are investment professionals. The company has a total of $138 billion in assets under management that are split across over 100 institutional accounts. Lord, Abbett & Co. currently offers 60 mutual funds including Growth Leaders, Growth Opportunities, Calibrated Dividend Growth, International Core Equity, Multi Asset Growth, Emerging Markets Corporate Debt, and High Yield Municipal Bond funds, among others.
As of the latest 13F report, the guru’s equity portfolio contained 558 stocks valued at a total of $27.86Bil. The top holdings were MSFT(2.57%), AAPL(1.82%), and UNH(1.60%).
According to GuruFocus data, these were LORD, ABBETT & CO. LLC’s top five trades of the quarter.
Tesla Inc
LORD, ABBETT & CO. LLC reduced their investment in NAS:TSLA by 1,127,764 shares. The trade had a 1.17% impact on the equity portfolio. During the quarter, the stock traded for an average price of $189.34.
On 02/10/2023, Tesla Inc traded for a price of $196.76 per share and a market cap of $622.57Bil. The stock has returned -35.26% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Tesla Inc has a price-earnings ratio of 54.31, a price-book ratio of 13.92, a EV-to-Ebitda ratio of 36.42 and a price-sales ratio of 8.78.
The price-to-GF Value ratio is 0.49, earning the stock a GF Value rank of 4.
Apple Inc
LORD, ABBETT & CO. LLC reduced their investment in NAS:AAPL by 1,841,211 shares. The trade had a 1% impact on the equity portfolio. During the quarter, the stock traded for an average price of $142.91.
On 02/10/2023, Apple Inc traded for a price of $150.379 per share and a market cap of $2,379.29Bil. The stock has returned -12.04% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 25.53, a price-book ratio of 42.01, a price-earnings-to-growth (PEG) ratio of 1.47, a EV-to-Ebitda ratio of 19.10 and a price-sales ratio of 6.30.
The price-to-GF Value ratio is 0.88, earning the stock a GF Value rank of 7.
Microsoft Corp
LORD, ABBETT & CO. LLC reduced their investment in NAS:MSFT by 867,354 shares. The trade had a 0.79% impact on the equity portfolio. During the quarter, the stock traded for an average price of $239.99.
On 02/10/2023, Microsoft Corp traded for a price of $261.5156 per share and a market cap of $1,946.67Bil. The stock has returned -12.58% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 29.06, a price-book ratio of 10.64, a price-earnings-to-growth (PEG) ratio of 1.41, a EV-to-Ebitda ratio of 19.47 and a price-sales ratio of 9.62.
The price-to-GF Value ratio is 0.84, earning the stock a GF Value rank of 9.
Costco Wholesale Corp
LORD, ABBETT & CO. LLC reduced their investment in NAS:COST by 396,674 shares. The trade had a 0.74% impact on the equity portfolio. During the quarter, the stock traded for an average price of $488.67.
On 02/10/2023, Costco Wholesale Corp traded for a price of $498.19 per share and a market cap of $221.06Bil. The stock has returned -3.24% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Costco Wholesale Corp has a price-earnings ratio of 37.66, a price-book ratio of 10.30, a price-earnings-to-growth (PEG) ratio of 3.09, a EV-to-Ebitda ratio of 22.00 and a price-sales ratio of 0.95.
The price-to-GF Value ratio is 0.97, earning the stock a GF Value rank of 6.
Amazon.com Inc
LORD, ABBETT & CO. LLC reduced their investment in NAS:AMZN by 1,643,623 shares. The trade had a 0.73% impact on the equity portfolio. During the quarter, the stock traded for an average price of $98.78.
On 02/10/2023, Amazon.com Inc traded for a price of $97.08 per share and a market cap of $994.80Bil. The stock has returned -38.95% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Amazon.com Inc has a price-book ratio of 6.78, a EV-to-Ebitda ratio of 28.08 and a price-sales ratio of 1.91.
The price-to-GF Value ratio is 0.49, earning the stock a GF Value rank of 4.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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