2 Dividend Kings to Buy on the Dip and Hold Forever
The elite club of Dividend Kings arguably stands out as the market's most prestigious group of Dividend payers. Companies must have raised their payouts for at least 50 consecutive years to join, a feat requiring an incredibly solid business. The strength of their underlying operations makes many Dividend Kings attractive beyond the consistent passive income they offer, even when they aren't performing particularly well.
Let's look at two Dividend Kings that are lagging the market this year but are still worth investing in for the long term: Abbott Laboratories (NYSE: ABT) and AbbVie (NYSE: ABBV).
Medical devices expert Abbott Laboratories has delivered somewhat inconsistent financial results over the past three years. The pandemic initially harmed the company's business, and although it was able to keep its earnings afloat by marketing coronavirus diagnostic tests, sales of these products have been up and down. In the second quarter, Abbott's revenue declined by 11.4% to almost $10 billion.
Source Fool.com
Abbott Laboratories Stock
Abbott Laboratories is currently one of the favorites of our community with 19 Buy predictions and no Sell predictions.
With a target price of 116 € there is a positive potential of 20.15% for Abbott Laboratories compared to the current price of 96.55 €.
