#2 - AbbVie (NYSE:ABBV)
AbbVie Inc. (NYSE: ABBV) is another large-cap healthcare company that offers investors the opportunity for both growth and income. The stock is up about 23% in 2024. But most of that growth has occurred since its second quarter earnings report. Investors can see that Skyrizi and Rinvoq give AbbVie a path to offset biosimilar competition for its Humira drug.
Another potential catalyst is the company’s acquisition of Cervel Therapeutics. This will expand the company’s pipeline, which is already robust in neuroscience oncology, including areas like migraine and Parkinson’s disease.
Over the last five years, ABBV stock has delivered a total return of 154.72%. A significant part of that is due to the company’s dividend, which currently has a 3.25% yield and has grown at an annualized rate of 7.84% in the last three years. The dividend king has also increased that dividend for 52 consecutive years.
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
- $164.91
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 18 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $203.89 (23.6% Upside)
