10 Best DRIP Stocks To Own Now

4. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 85

AbbVie Inc. (NYSE:ABBV) is an American multinational biopharmaceutical company that specializes in the development and commercialization of advanced therapies and treatments in various areas of healthcare. The company stands out as a major pharmaceutical company with a broad range of treatments across immunology, oncology, neuroscience, and eye care. It also markets well-known aesthetic brands like Botox and Juvederm for anti-aging skincare. This diverse portfolio, along with its strong track record of innovation, contributes to its status as a blue-chip stock and an attractive investment option. In the past 12 months, the stock has surged by over 13%, which places it on our list of the best DRIP stocks.

AbbVie Inc. (NYSE:ABBV) reported fourth-quarter revenue of $15.1 billion, reflecting a 5.6% YoY increase and surpassing analysts’ expectations of $14.87 billion. On a GAAP basis, the company posted a net loss of $0.02 per share for the quarter. However, its adjusted diluted earnings per share (EPS) came in at $2.16, slightly exceeding the analysts’ forecast of $2.13.

In 2024, sales of Skyrizi and Rinvoq totaled $17.7 billion, marking a 51% increase from the previous year due to rising global demand and sustained market growth. When excluding the Humira platform, AbbVie’s overall revenue saw an 18% year-over-year increase, supported by strong performance in its neuroscience and oncology segments.

AbbVie Inc. (NYSE:ABBV) currently offers a quarterly dividend of $1.64 per share and has a dividend yield of 3.25%, as of February 23. The company has been rewarding shareholders with growing dividends for the past 52 consecutive years.