15 Best Dividend Stocks to Buy for Long-Term Passive Income

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1. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 85

AbbVie Inc. (NYSE:ABBV) is a pharmaceutical company focused on research and innovation, developing and marketing treatments for a range of chronic and serious health conditions. Its areas of focus include oncology, gastroenterology, rheumatology, dermatology, virology, and other complex medical issues.

In the fourth quarter of 2024, AbbVie Inc. (NYSE:ABBV) reported revenue of $15.1 billion, marking a 5.6% increase from the same quarter the previous year and exceeding analysts’ expectations of $14.87 billion. Despite posting a small GAAP net loss of $0.02 per share, the company’s adjusted diluted earnings were $2.16 per share, slightly surpassing the forecasted $2.13. For the full year 2024, combined sales of Skyrizi and Rinvoq grew by 51%, reaching $1.77 billion, driven by strong demand and wider adoption across global markets.

AbbVie Inc. (NYSE:ABBV) also pays a quarterly dividend of $1.64 per share, offering a dividend yield of 3.64%, as of April 24. The company has an impressive 52-year streak of dividend growth, making it an attractive choice for income-focused investors.

Overall, AbbVie Inc. (NYSE:ABBV) ranks first on our list of the best dividend stocks for long term passive income. While we acknowledge the potential of ABBV as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than ABBV but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the dirt cheap dividend stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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