Dividend Kings List: Top 15

8. AbbVie Inc. (NYSE:ABBV)

Dividend Yield as of December 3: 3.59%

AbbVie Inc. (NYSE:ABBV) is an American pharmaceutical and biotech company, offering related products and services to its shareholders. The company reported third-quarter 2024 revenue of $14.46 billion, marking a 4% increase compared to the same period last year. Its Immunology Portfolio contributed over $7 billion in revenue, also reflecting a 4% year-over-year rise. In August, the company acquired Cerevel Therapeutics, a neuroscience-focused pharmaceutical firm, for $8.7 billion in cash. This acquisition added a pipeline of promising drug candidates, including emraclidine, a potential treatment for schizophrenia.

One of the best dividend kings, AbbVie Inc. (NYSE:ABBV) surged by nearly 14% since the start of 2024, showcasing investor confidence in the company’s handling of Humira’s patent expiration. Humira, once a top-selling drug with peak sales of $21 billion in 2022, saw a significant revenue decline after losing patent protection last year. Despite this, the company’s management effectively managed the situation, compensating for the loss in Humira’s sales, which previously accounted for nearly a third of the company’s total revenue.

AbbVie Inc. (NYSE:ABBV) offers a quarterly dividend of $1.64 per share, having raised it by nearly 6% in October this year. Through this increase, the company stretched its dividend growth streak to 52 years. As of December 3, the stock supports a dividend yield of 3.59%.

Of the 900 hedge funds tracked by Insider Monkey at the end of Q3 2024, 68 funds had invested in AbbVie Inc. (NYSE:ABBV), up from 67 in the previous quarter. The total value of these stakes is over $2.5 billion.