10 Dividend Stocks For Steady Income

4. AbbVie Inc. (NYSE:ABBV)

Dividend Yield as of December 20: 3.76%

5-Year Share Price Return: 95.8%

An American pharmaceutical and biotech company, AbbVie Inc. (NYSE:ABBV) ranks fourth on our list of the best stocks with steady dividends. The company has consistently raised its payouts for 52 years. Currently, it offers a quarterly dividend of $1.64 per share and has a dividend yield of 3.76%, as of December 20.

Over the past 12 months, AbbVie Inc. (NYSE:ABBV) has risen by more than 16%, highlighting investor confidence in the company’s management of Humira’s patent expiration. Once a top-selling drug with peak sales of $21 billion in 2022, Humira faced a significant revenue decline following the loss of its patent protection last year. Despite this, AbbVie’s leadership effectively mitigated the impact, compensating for the drop in sales from a drug that previously accounted for roughly one-third of the company’s total revenue.

In the third quarter of 2024, AbbVie Inc. (NYSE:ABBV) posted revenue of $14.46 billion, marking a 4% increase compared to the same period the previous year. Its Immunology Portfolio contributed over $7 billion in revenue, also reflecting 4% year-over-year growth. In August, the company completed an $8.7 billion cash acquisition of Cerevel Therapeutics, a pharmaceutical company focused on neuroscience. This deal added a strong pipeline of drug candidates, including emraclidine, a potential treatment for schizophrenia.

At the end of the third quarter of 2024, AbbVie Inc. (NYSE:ABBV) was a part of 68 hedge fund portfolios, up from 67 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these funds have a consolidated value of over $2.58 billion. Cliff Asness’ AQR Capital Management was the company’s leading stakeholder in Q3.