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Markets · Investing · Business
Finance
AbbVie Stock: Buy, Sell, or Hold in October?
The pharmaceutical giant still looks like a stable long-term investment.
AbbVie(NYSE: ABBV), one of the world's largest pharmaceutical companies, has been a reliable long-term investment. It's raised its dividend annually for 53 consecutive years, making it a Dividend King that has increased its payout for at least 50 years in a row, and a dozen of its drugs generate more than $1 billion in annual revenue. But as the 10-year Treasury yield stays above 5% -- its highest level since 2007 -- is it still smart to buy and hold this dividend stock?
Image source: Getty Images.
In 2023, AbbVie lost its U.S. patent exclusivity for Humira, the blockbuster autoimmune drug that once accounted for over 60% of its sales.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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