#5 - AbbVie (NYSE:ABBV)
Dividend yield: 3.99%
Market capitalization: $230.51 billion
AbbVie (NYSE: ABBV) has a track record of increasing its dividend and has done so for 49 years. That puts it within striking distance of joining the exclusive Dividend King club. Due to concerns about patent expirations in the United States, ABBV stock has “only” gone up 21% this year. But that has to be disappointing for investors who got a 55% jump in the stock from the lows of the pandemic to the end of 2020.
However, some of these patent concerns may be overblown. Sales of the drug in question, Humira, have been slowing. However, AbbVie has been proactive in diversifying its revenue streams including its acquisition of Allergan. That’s the company known for the drug Botox. AbbVie paid $63.4 billion for Allergan in 2020 but should start seeing the fruits of that deal flow through to the company’s bottom line moving forward.
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.
More about AbbVie- Current Price
- $172.78
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 19 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $210.71 (22.0% Upside)
