Topic: How To Invest

Dividend Advisor Hotline – Friday, March 11, 2022

Article Excerpt

ABBVIE INC., $149.06, New York symbol ABBV, is a top pick for 2022. The company 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 has raised its dividend each year since 2013. The last increase came in February 2022 when the quarterly payment rose 8.5%, to $1.41 a share from $1.30. The new annual rate of $5.64 yields a high 3.8%. AbbVie continues to spend heavily on research and development (R&D): in its latest quarter, the company invested $1.7 billion in R&D, a solid 12% of its revenue. This includes looking for new drugs, as well as finding new uses for existing drugs. But, in addition, the company makes acquisitions to expand its pipeline. This includes the just-completed purchase of Syndesi Therapeutics SA from Nuvo Holdings. AbbVie will pay Syndesi shareholders a $130 million upfront payment with the…