3 Reasons to Buy This Blue-Chip Stock
The market has had to deal with a variety of concerns through the first five months of this year. This has led the S&P 500 index to dip 14% through May.
The exodus out of growth stocks has been marked by particularly strong demand for high-yield dividend stocks. The pharma stock AbbVie (NYSE: ABBV) has gained 9% as of the end of May, but still looks like it's a buy. Here are three reasons why.
When AbbVie reported its first-quarter results on April 29, they topped analysts' consensus forecasts. AbbVie recorded $13.5 billion in net revenue during the quarter, up 4.1% over the year-ago period. This was just shy of the average analyst net revenue prediction of $13.6 billion. Despite this narrow net revenue miss, AbbVie has beaten analysts' net revenue consensus in eight out of the past 10 quarters.
Source Fool.com
