AbbVie reported third-quarter revenue of $17.4 billion, up 10.3% year over year, and adjusted EPS of $3.82, beating the midpoint of its guidance by about $0.07. Excluding costs tied to acquiring experimental drugs, adjusted EPS rose about 17%, from $3.36 to $3.93. Skyrizi and Rinvoq grew 22.7% and 23.9% and together made up 48.7% of revenue, while Humira sales fell to $683 million from $993 million. The company modestly raised full-year adjusted EPS guidance to $13.95 to $13.99 and increased its quarterly dividend 5.2% to $1.82, starting in February. The author remains bullish on AbbVie's long-term prospects but says its current valuation makes the 2027 guidance, due with fourth-quarter results, especially important.
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AbbVie (ABBV) shares have climbed 26% this year on strong financial performance, and the author sees a bright medium-term outlook. Skyrizi, the company's biggest growth driver, generated almost $10 billion in sales in the first half, up 27%, but its U.S. patents may begin expiring by 2033, potentially opening the door to cheaper biosimilars. On Oct. 19, AbbVie reported encouraging Phase 2a results for ABBV-466, which combines risankizumab and trosunilimab, though these must still be confirmed in Phase 3 studies. Its $10.9 billion cash acquisition of Apogee Therapeutics brought zumilokibart, which AbbVie hopes can challenge Dupixent (over $15 billion in annual sales), with maintenance injections possibly only every three or six months. Rinvoq should not face U.S. generics until 2037, and the author says AbbVie can deliver competitive long-term returns, with a forward yield of 2.5% versus the S&P 500's average of 1.1%.
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The article argues AbbVie (ABBV) is not a high-yield trap, since its free cash flow comfortably covers its $1.73-per-share quarterly dividend and most of its $70.8 billion debt is fixed-rate. The company has raised its dividend for 54 consecutive years, qualifying it as a Dividend King. Skyrizi and Rinvoq together brought in over $7.5 billion in Q2 2026, more than the $6.1 billion paid in dividends that quarter, and AbbVie has about 90 clinical-development programs, roughly 60 of them in mid- or late-stage studies. Its 2.5% yield is lower than before mainly because the share price has risen sharply, and the article notes that pipeline setbacks remain a risk.
- Forget High - Yield Traps : AbbVie Is the Dividend King to Buy and Hold Through Any Rate Cycle
The article argues AbbVie is not a high-yield trap, because its free cash flow is sufficient to cover its quarterly dividend of $1.73 per share, and most of its $70.8 billion debt is in fixed-rate notes. AbbVie has raised its dividend for 54 consecutive years, qualifying it as a Dividend King, a group of stocks that have raised dividends for at least 50 years. Skyrizi and Rinvoq together brought in over $7.5 billion in the second quarter of 2026, more than the $6.1 billion paid in dividends that quarter, and the company has about 90 programs in development, around 60 of them in mid- or late-stage studies. The dividend yield of 2.5% is lower than before because the share price has risen faster than dividends, and the article notes that pipeline setbacks remain a risk.
- Forget High-Yield Traps: AbbVie Is the Dividend King to Buy and Hold Through Any Rate Cycle
The article contrasts AbbVie with high-yield traps, arguing its free cash flow covers its quarterly dividend of $1.73 per share and that most of its $70.8 billion in debt is fixed-rate senior notes. AbbVie has raised its dividend for 54 consecutive years, qualifying it as a Dividend King, and Skyrizi and Rinvoq together brought in over $7.5 billion in the second quarter of 2026, more than the $6.1 billion paid in dividends that quarter. The company has roughly 90 programs in clinical development, around 60 in mid- or late-stage studies. Its 2.5% yield is lower than before because the share price has risen faster than dividends. The author notes that pipeline setbacks remain a risk.
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