Related story:
Grew up receiving stock gifts from my grandfather who was a lifer at 3M. He gave us 10-15 shares of 3M or Medtronic every year for Christmas.
Unfortunately, when I turned 18 I sold it all (for something like $15-$20k) and wasted it during college. Had I kept it, with the splits and dividend reinvestments, it'd be worth roughly $150-$200k now. Would have paid for my kids schooling.
Giving stock is a great gift, if you also take time to help teach responsibility, otherwise you're just handing them a post dated check.