Nice week, by the way. Dow up over 200 points, and Abbott is on its way through the Abbott Park sewer system into Lake Michigan. What a disgrace.
ABT share price is being affected like the rest of big pharma because nobody is sure how it will be affected by Obamas health care reform. If he leaves well enough alone the stock will continue it's ascent back to the $50's. 342nd consecutive divy payout (85yrs). Many of my neighbors here work for Abbott and many retired and current average workers their are millionaires from mother Abbott.
idiots? hmm, at least I know what spinoff means.
If you owned 100 Abbott share at the time when Abbott spun off a division of Abbott to form a new company(Hospera), then you were given 10 shares of the new company(Hospera). Needless to say, this reduced the value of the Abbott stock.
I googled ..answer Miles White became CEO of ABBott in January 1999 (ie. 9.5 years ago)
The adj. close of Abbott in January/1999 was 34.46.
Abbott today is 44.45
44.45 - 34.46 = 9.99
9.99/34.46 = 29 per cent increase in 9.5 years
29 / 9.5 = average 3 per cent a year
Impressive = no ... but POS = NO
By contrast ..The adj close of the DOW in January/1999 was 9358.
Curently, the DOW is 8761 ..so for the same time period, the DOW is down 6 per cent
Don't forget the dividend... If you had bought 1,000 shares in January 1999 at 34.36, you would have also earned (including tomorrow's ex-div) $10,890 in dividends. Your current holding would today be worth $55,240. A 60% gain (6.3% annually) on your initial investment. I'd say that's not bad at all, with the Dow down 6% (and the S&P down 24%) in that same time frame...