New drugs will fuel this dividend

Article Excerpt

Drugmaker AbbVie has held up well during the current stock market turmoil: it’s up 9% since the start of 2022 compared to the 22% drop for the S&P 500 Index. AbbVie’s outlook remains bright, particularly as it continues to invest heavily in the development of new drugs. Those include a potential treatment for Parkinson’s disease that is administered under the skin. Clinical trials suggest it’s more effective than oral versions. The company’s strong drug development pipeline should let it keep raising your dividend, as it has each year since 2013. ABBVIE INC. $148 is a top pick for 2022. The company (New York symbol ABBV; High-Growth Dividend Payer Portfolio, Manufacturing sector; Shares outstanding: 1.8 billion; Market cap: $266.4 billion; Dividend yield: 3.8%; Dividend Sustainability Rating: Above Average; www.abbvie.com) makes medical devices, diagnostic tests, pediatric and adult nutritional products, and generic drugs. AbbVie took its current form on January 3, 2013, when Abbott Laboratories (New York symbol ABT) split into two publicly traded firms. The company last raised your quarterly…

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