#6 - AbbVie (NYSE:ABBV)
AbbVie (ABBV) - Pharmaceutical company AbbVie (NYSE:ABBV) has been an exceptional stock for growth and income since it became a separate entity from Abbott Labs in 2013. The company has increased its dividend by an average of nearly 25% per year. In fact, AbbVie has increased its dividend in each of the last 45 years. This is music to investors’ ears, particularly when you consider the stock has a juicy 5.65% dividend yield.
If there’s any concern about the future growth of the stock, it stems from the expiring patent on their best-selling drug Humira. The patent for Humira expired in 2018 and the U.S. patent will expire in 2023. But the good news is that in 2019, international sales did not decline as much as investors feared. And in 2019, the market research firm EvalutePharma was projecting Humira sales to remain over $15 billion in 2024. And with many other drugs in the company’s pipeline, the company is projecting $35 billion in additional revenue on top of what it may get from Humira. Pharmaceutical stocks can be volatile. But not when they have a pipeline like what investors get from AbbVie.
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
- $176.95
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 19 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $203.50 (15.0% Upside)
