Is This Dividend King a Buy for 2022 and Beyond?
High inflation rates, looming interest rate hikes, and most recently Russia's invasion of Ukraine have all led to a return of market volatility in 2022. For context, the S&P 500 has fallen 9% year to date.
One company that has nevertheless managed to do well lately is pharma stock AbbVie (NYSE: ABBV), whose shares are up 11% year to date. This raises the following questions: Has AbbVie's rally been overdone? Or is there still room for the Dividend King to run higher? Let's dive into AbbVie's fundamentals and valuation to address these questions.
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Source Fool.com