#3 - AbbVie (NYSE:ABBV)
AbbVie (NYSE:ABBV) is a stock that got bypassed as investors spread their investment dollars to companies that had a stake in the Covid-19 vaccine and/or therapeutic race. But now that the dust has settled, it’s time to reconsider this dividend darling.
ABBV stock is closing in on Dividend King status. It has raised its dividend for 49 consecutive years. Considering its last increase was in Oct. 2020, it may join that elite club this year. And AbbVie has increased its dividend by an impressive 84.37% over the past three years.
Analysts have been, in my opinion, nit-picking at ABBV stock because the company will lose its exclusive U.S. rights to its massively popular arthritis drug, Humira, in 2023. That’s a logical concern but it loses sight of AbbVie’s robust pipeline and the fact that it has two immunology drugs, Skryizi and Rinvoq currently in market.
Those two drugs delivered over $2.2 billion in net revenue in 2020 and are forecast to reach $15 billion by 2025.
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
- $163.81
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $174.31 (6.4% Upside)
