1 High-Yield Dividend Stock That Looks Like a Screaming Buy
Pharma giant (NYSE: ABBV) performed poorly in the first part of the year, especially after it reported its first-quarter results. This was its first quarterly update following the loss of patent exclusivity for its blockbuster immunology medicine Humira in the U.S. However, AbbVie has performed much better over the past three weeks, although its shares remain in the red for the year.
Will AbbVie's rebound continue? It's difficult to predict how things will unfold in the next six months, but investors interested in dividend-paying stocks should consider scooping up shares of AbbVie at current levels, whether or not it performs well in the short run. Here is why.
The loss of Humira's patent exclusivity is leaving a gaping hole in AbbVie's business. It isn't just that it was the company's best-selling medicine. It was one of the top-selling drugs in the history of the entire pharmaceutical industry. Even after losing patent exclusivity in Europe in 2018, it grew to its peak annual sales of $21.2 billion last year after a brief decline post-2018.
Source Fool.com
AbbVie Inc. Stock
With 32 Buy predictions and not a single Sell prediction AbbVie Inc. is an absolute favorite of our community.
With a target price of 180 € there is a slightly positive potential of 7.09% for AbbVie Inc. compared to the current price of 168.08 €.
