15 Stocks to Invest in with Steady Dividends

8. AbbVie Inc. (NYSE:ABBV)

Upside Potential as of January 20: 18.03%

AbbVie Inc. (NYSE:ABBV) is an Illinois-based biopharmaceutical company that specializes in the development and commercialization of advanced therapies and treatments in various areas of healthcare. The company continues to be a key player in the pharmaceutical industry, supported by a strong portfolio of existing products and promising candidates in its pipeline. One standout is Tavapadon, a treatment for Parkinson’s disease, which recently achieved significant milestones in a late-stage study, offering hope for ABBV’s neuroscience initiatives.

Although pharmaceutical stocks have encountered difficulties in 2024, largely due to political concerns over drug pricing, AbbVie Inc. (NYSE:ABBV)’s focus on creating new, innovative treatments has positioned it strongly. The Inflation Reduction Act, which limits price increases, has pushed companies to prioritize innovation instead of relying on price hikes. The company’s successful efforts to diversify its portfolio in recent years have positioned the company for substantial growth moving forward. In the past 12 months, the stock has surged by nearly 5%.

In the third quarter of 2024, AbbVie Inc. (NYSE:ABBV) reported revenue of $14.46 billion, which saw a 4% increase from the same period last year. Its Immunology Portfolio generated over $7 billion, also growing by 4%. Moreover, in August 2024, AbbVie completed an $8.7 billion acquisition of Cerevel Therapeutics, a neuroscience company.

While AbbVie Inc. (NYSE:ABBV) primarily focuses on immunology, oncology, inflammation, and eye care, its recent move into neuroscience has opened up additional growth opportunities, helping to diversify its revenue streams. For investors, the key focus should be on AbbVie’s robust pipeline in these other areas, which holds potential for future growth, regardless of how its neuroscience efforts unfold.

AbbVie Inc. (NYSE:ABBV) is one of the best stocks with steady dividends as the company has been rewarding shareholders with growing dividends for the past 52 years. The company pays a quarterly dividend of $1.64 per share and has a dividend yield of 3.79%, as of January 20.

At the end of the third quarter of 2024, 68 hedge funds tracked by Insider Monkey held stakes in AbbVie Inc. (NYSE:ABBV), up from 67 in the preceding quarter. These stakes are collectively valued at roughly $2.6 billion. With over 1.7 million shares, AQR Capital Management was the company’s leading stakeholder in Q3.