Topic: How To Invest

Dividend Advisor Hotline – Friday, November 8, 2024

Article Excerpt

ABBVIE INC., $199.50, New York symbol ABBV, is a buy. The company makes biopharmaceuticals, with leading positions in immunology, oncology, aesthetics, neuroscience and eye care. AbbVie took its current form on January 3, 2013, when Abbott Laboratories (New York symbol ABT) split into two publicly traded firms. The company will raise your quarterly dividend with the February 2025 payment by 5.8%, to $1.64 a share from $1.55. The new annual rate of $6.56 a share yields 3.3%. AbbVie has agreed to pay $1.4 billion to buy Aliada Therapeutics. To put that cost in context, the company’s market cap (the total value of all outstanding shares) is $354.1 billion. The acquisition will give AbbVie control of an Alzheimer’s disease drug candidate Aliada, which is licensed from Johnson & Johnson. Alaida aims to try to improve on the first generation of anti-amyloid-beta antibodies. The company is developing an antibody that binds to pyroglutamate amyloid beta, a form of the peptide found in the brains of people with Alzheimer’s…