Is AbbVie's Dividend Yield Safe?
(NYSE: ABBV) is a leading pharmaceutical company that rewards its shareholders with a generous dividend policy. The company has a history of increasing its dividends for more than 50 years in a row, earning it the status of Dividend King. AbbVie also sports one of the highest dividend yields within its peer group. Presently, the drugmaker's annualized yield stands at a noteworthy 4.3%.
However, AbbVie is facing some significant headwinds. The company's flagship product, Humira, which treats various inflammatory conditions, lost patent protection in the U.S. earlier this year. Humira was responsible for 28% of AbbVie's revenue in the first quarter of 2023. It has also been a strong contributor to the company's free cash flows over the years due to its high price and ever-expanding utility within the sizable immunology market.
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Source Fool.com
AbbVie Inc. Stock
The stock is an absolute favorite of our community with 32 Buy predictions and no Sell predictions.
As a result the target price of 180 € shows a slightly positive potential of 7.09% compared to the current price of 168.08 € for AbbVie Inc..
