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Dear Fellow Investor,
Company: AbbVie (SYM: ABBV)
One of the most oversold pharmaceutical stocks to buy for the long haul is AbbVie (SYM: ABBV).
With a yield of 3.74%, AbbVie discovers, develops, manufactures, and sells pharmaceuticals worldwide.
It offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers. It also provides facial injectables, plastics and regenerative medicine, body contouring, and skincare products.
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Most recently, the company reported topline results from its Phase 3 study of tavapadon for the treatment of early Parkinson’s disease.
Not only did the treatment meet its primary endpoint of showing statistically significant improvement from baseline compared to placebo in the Movement Disorder Society - Unified Parkinson's Disease Rating Scale, but it also met its secondary endpoint showing statistically significant and clinically meaningful improvement in motor aspects of experiences of daily living in the tavapadon group compared to placebo, as noted in a recent AbbVie press release.
Even better, the company just increased its dividend to $1.64 from $1.55 per share, payable on February 14, 2025 to shareholders of record as of January 15, 2025. Since 2013, ABBV’s dividend has now been increased by about 310%.
Plus, analysts at Piper Sandler just raised their price target on ABBV to $220 from $212 with an overweight rating. We also have to consider that ABBV is cheap, trading with a price to earnings growth (PEG) ratio of just 0.41x, which is down from 3.21x year over year.
American Stock Investor
Elon Musk Predicts Artificial Intelligence Doomsday
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Earnings Haven’t Been Too Shabby Either
In its most recent quarter, AbbVie’s EPS of $3 beat by eight cents. Revenue of $14.46 billion, up 3.83% year over year, beat by $183.12 million. Skyrizi and Rinvoq revenues were up 50.8% year over year to $3.2 billion and 45.3% to $1.6 billion, respectively, during the quarter, with its immunology portfolio generating over $7 billion, up 3.9% year over year.
Meanwhile, the company’s arthritis treatment Humira dropped about 37.2% to $2.2 billion thanks to U.S. generic competition.
"We delivered another quarter of strong commercial execution and significant pipeline progress," said Robert A. Michael, CEO, AbbVie, as quoted in the company’s earnings release.
Huge Alerts
With gold achieving record breaking highs in 2024, this is the #1 gold stock to watch in 2025!
Gold’s allure is spreading as the metal locks in fresh records. This stock looks like a hidden opportunity as renowned gold investor Eric Sprott has gone BULLISH on the company!
Given gold’s bullish performance in 2023 and in 2024, many investors have turned to the metal to stabilize their portfolios and mitigate the devastating effects of inflation and global turmoil. The yellow metal has long been considered a safe haven. Gold has had a record-breaking climb in 2024, and many analysts predict more gains next year.
Get the ticker details here...
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