In 2024, the S&P 500 hit a record high 50 times, making it a historic year for stocks. This rapid growth presents a challenge for investors looking for bargains, especially in dividend stocks like AbbVie (NYSE: ABBV), which recently dipped nearly 20% due to a setback in a clinical trial.

AbbVie’s stock dip was caused by disappointing results in a clinical trial for a potential schizophrenia treatment. Despite this setback, AbbVie’s robust lineup, including successful drugs like Skyrizi and Rinvoq, and promising acquisitions like ImmunoGen, make it a strong contender in the pharmaceutical sector.

Should you invest in AbbVie? The company’s strong sales, consistent dividend increases, and solid pipeline make it an attractive option for income investors. While AbbVie faces challenges, its long-term potential and dividend growth make it a compelling choice for those looking to add a reliable stock to their portfolio.

Read more at Nasdaq: 1 Magnificent S&P 500 Dividend Stock Down 14% to Buy and Hold Forever