1 Magnificent S&P 500 Dividend Stock Down 14% to Buy and Hold Forever

This will go down in history as an incredible year for stocks. The S&P 500 hit a new all-time high 50 times. For perspective, there are about 250 trading days in the year. So, on average, the market made history every five days this year. This is excellent for existing portfolios, but makes it challenging to find bargains.Higher prices mean that dividend investors get lower yields on new positions. The key is to be selective and take advantage of dips in prices of high-quality dividend companies. AbbVie (NYSE: ABBV) recently dipped nearly 20% and is still down 14%, offering an enticing 3.7% forward yield. Here's what makes AbbVie a long-term buy-and-hold dividend gold mine.Like growth stocks, pharmaceutical stocks can have wild swings as the market digests -- and often overreacts to -- news. This is the case here. AbbVie acquired the clinical-stage pharma company Cerevel Therapeutics in late 2023 for $8.7 billion. Cerevel brought seven pipeline drugs to the fold in various stages of the approval process. Its most promising drug, emraclidine, failed to meet its primary endpoint in a phase 2 trial to treat schizophrenia. This is disappointing; however, the drug is still being tested for use in Alzheimer's, and there are other drugs in the pipeline.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool