10 Best Safe Stocks To Buy According to Analysts

5. AbbVie Inc. (NYSE:ABBV)

Analyst Upside as of December 9, 2024: 16%

10-Year Revenue Growth Rate: 10.9%

Number of Hedge Fund Holders: 68

AbbVie Inc. (NYSE:ABBV) is one of the safest stocks to buy according to analysts. The pharmaceutical company is one of the biggest biotechnology companies in the United States. With an immense focus on advanced research, ABBV is making strides in drug development and treatment discovery. In the third quarter of 2024, the company generated $14.46 billion in worldwide net revenues, an increase of nearly 4%. Of this global net revenues for its immunology portfolio were $7.05 billion, up by nearly 4%. The company also saw significant revenue growth rates in its oncology and neuroscience portfolio, up by 12% and 16% respectively.

Following its growing momentum in pipeline expansion and commercial expansion, the company increased its full-year revenue guidance and quarterly dividend. Aligning with its strategy, AbbVie Inc. (NYSE:ABBV) completed the acquisition of Cerevel during the quarter, expanding its neuroscience portfolio. During the same quarter, AbbVie Inc. (NYSE:ABBV) announced a definitive agreement to acquire Aliada Therapeutics for $1.4 billion, a biotechnology company.

Overall, AbbVie Inc. (NYSE:ABBV) received approvals for major drugs and treatments and also expanded its existing pipelines, positioning it as a leader in the pharmaceutical industry and an emerging one in the biotechnology industry. At the end of Q3 2024, 68 hedge funds were bullish on the stock, according to our Insider Monkey database.