3 Things About Abbott Laboratories That Smart Investors Know
Grace Groner spent 43 years as a secretary at healthcare conglomerate Abbott Laboratories (NYSE: ABT) before retiring and later passing away in 2010 at the age of 100. The fascinating part of her story was that she bought three $60 shares of the company's stock in 1935 (costing a bit over $1,200 in today's dollars) and held them until her death. After many decades of stock splits, dividends, and growth, her estate was worth more than $7 million at her passing.
Now, Abbott Labs is a much different company today than it was in 1935 or even 2010 -- but it still has a lot going for it. Here are three things smart investors know about Abbott.
Abbott's identity as a company has evolved over the years; it had an enormous pharmaceutical business until it spun off most of it as AbbVie in 2013. Today, the company focuses on nutrition, diagnostics, and medical devices with major shake-ups over the years, including more than $30 billion in acquisitions this past decade for St. Jude (medical devices) and Alere (diagnostics).
Source Fool.com
