Don't see how this solves ABT's "small accounts" problem. What's to stop me from buying 15 shares the second after you sell? This sounds strange.
Get into GENE for some serious action, Sierra has it that phizer might be buying the company. Abbott also looks like a potential bidder. Get in before it explodes two folds.
Not clear from your post, but it doesn't sound like ABT is going to force you to sell your shares to them. Can you just decline the offer? If not, why don't you go ahead and sell the shares yourself? Or buy enough shares to bring your holding up to 100 shares? And if your broker doesn't want to deal with lots smaller than 100 shares, change brokers. That hasn't been a problem since computers were invented and paper stock certificates disappeared. I'm a very senior citizen with an account at Fidelity. A buy/sell for 10 shares is handled just as quickly as one for 100 or 1000.
Doubt this came from Abbot. They would have put out a news release and paid for the fees. Broker would have only been the intermediary and been compensated by ABT. There was an offer late last year by Abbot for Chilean bonds issued by their Chilean subsidiary and you can find it under ABT news.
Excellent comment and I thank you.
I called my broker and he re-assured me that it wasn't them that initiated that e-mail.
He also stated and it made sense to me that ABT was the originator because of two facts.
One they do not care to have the administraive responsibility for small accounts and two this action provides them to have more shares available to sell.
It costs me $7.00 to buy shares and $7.00 to sell. Through the years I have come to know the manager and assistant manager and I trust them both.
When this security tops out I may make a decision.
Trade wisely and I suggest to anybody to first call ABT and ask them what is their policy regarding limiitation on the amount of shares they require investors to hold.
In closing I say this is a very sad experience for a senior citizen.
Call Abbott Investor Relations up and see if this direction is really coming from Abbott Laboratories. Sounds to me that it could very well be your brokerage company not wanting to deal in lots smaller than 100 shares. I ran into this situation several years ago with a broker (Not with Abbott shares but with some other stocks) giving me the same pitch and I immediately transferred everything in the account to my other broker.
I was notified by my broker,via e-mail, that ABT wants to buy me out.
All shareholders who hold less than 100 shares are effected by this mini tender offer. The deal is that they would average out the last 10 closing prices and then deduct -$2.50 from each share and that would be my proceeds.
Add misery to that, my broker will charge me $25.00 to process that transaction.
Abbott laboratories who has been in businee for over 100 years evidently does not want small time accounts.
Abbott is going to present at the Leering Global Healthcare conference on this coming Thursday.
Im quite sure that this topic is not on their agenda. Trade Wisely and seek help from your broker.
Money talks and BS walks.
These are real revenues and gross margins are over 90%
Millennium Healthcare (MHCC) sales:
2011 - $224,000 Reported
2012 - $1,686,000 Reported
2013 - $1,987,000 Reported
2014 - $17,000,000 - $7.4 million already reported and $10 million within days of reporting final year
2015 Estimated from pro forma - $50,000,000 plus
2016 Estimated from pro-forma - $100,000,000 plus
Shares are extremely cheap at $.15 (Fifteen cents) but not for long.
December quarter is close to being announced and earlier indications from company conference call indicated they could be 8 digits which will close 2014 out at $17,000,000 plus.
MHCC IS EXCEPTIONALLY STRONG BUY
Sentiment: Strong Buy
Yes this is not a get rich fast stock but a continues to chug along. I sold ABBV shortly after the split and bought more ABT. Instead for of old line pharma I own CELG & REGN. They are up around 100% in two years and will continue to go higher. ABT is part of my core holdings of high quality stocks that have great cash flow allowing them to increase divy every year, buy back stock and reinvest in the business.
If you are referring to the Abbott Dividend, it was increased 2 cents per share per quarter (9%) starting with the February dividend payment.
Why does people make uninformed comments on these boards? The dividend was just increased 9% payable with the February dividend.
Good, I'm happy. Strange how when you speculate on currency risk, the rah-rahs come out and "thumbs down" your post. Been long for many years, but sold ABBV before Hep C approval.
No divvy increase this time around, I noticed.