#1 - AbbVie (NYSE:ABBV)
AbbVie (NYSE:ABBV) is the first of the dividend stocks to look at. The company recently gained entry into the exclusive Dividend Kings club. This means that the company has increased its dividend in each of the last 50 consecutive years. A dividend is a key part of an investor’s total return so a growing dividend helps to offset the years when shareholders have not enjoyed significant capital growth.
The company is beginning to show investors that it can manage any disruption that may occur when it loses patent protection for its flagship Humira drug. A key reason for that is it already has two potential replacements (Skyrizi and Rinvoq) in-market. And those two drugs delivered 64% and 54% year-over-year revenue increases respectively.
And despite the current turbulence in the market, ABBV stock is still up 11% for the year as of May 19, 2022.
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
Read More - Current Price
- $161.24
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $174.31 (8.1% Upside)
