A dose of AbbVie stocks can help your bear market portfolio

AbbVie (NYSE: ABBV) is a conventional stock for unconventional times. And that's exactly why it makes sense to add or hold in your bear market portfolio. The company offers a stable and growing dividend that helps boost your total return no matter what happens in the market day to day.

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I really want you to focus on the last part of that sentence. Every active investor has a bit of a speculator in them. That's part of the fun and part of the challenge. However, bear markets can humble the best of us, and it's a good time to get back to basics.

This does not mean withdrawing your money from the market or investing only in fixed income securities. This means prioritizing quality. This allows you to take a less passionate look at the daily ups and downs of the market…and possibly sleep better at night, too. It is this peace of mind that is at the heart of my reasoning for investing in ABBV shares during this bear market.

What will AbbVie earn this earnings season?

AbbVie releases its second quarter results on July 29, 2002. This will be around the time the Federal Reserve makes its interest rate announcement. So things can get a bit noisy for reasons that have nothing to do with AbbVie fundamentals.

In its last earnings call, AbbVie forecast revenue of $14.6 billion with earnings per share (EPS) of between $3.38 and $3.42. Analysts tracked by MarketBeat are taking a bearish tone with consensus EPS of $3.29. This may be due to AbbVie narrowly beating EPS last quarter and missing revenue.

On the other hand, Morgan Stanley (NYSE:MS) recently raised its price target for ABBV stock to $191. That's about 20% more than the consensus estimate.

A company with a deep bench

Investors are concerned about the company's loss of patent protection on Humira, its blockbuster drug. However, as others and I have written, AbbVie has launched new drugs such as Skyrizi and Rinvoq which are beginning to help the company diversify away from Humira.

Additionally, AbbVie is in the early stages of building what could be a profitable portfolio through its acquisition of Allergan. And in June, the company obtained a recommendation for approval from the European Medicines Agency's Committee for Medicinal Products for Human Use.

The recommendation authorizes an expanded label with Rinvoq for the treatment of adults with non-radiographic active axial spondyloarthritis. The company could receive official approval in the current quarter.

An investment fit for a king

Whenever I write about AbbVie, I always mention the dividend. It is not without reason. In 2021, AbbVie is part of the Dividend Kings club. This is a group of companies that have increased their dividends for at least 50 consecutive years. ABBV stock currently earns $5.64 per share on an annual basis.

Protect your wealth with ABBV shares

Investing is slowly building wealth. That's the benefit of buying stock in a company like AbbVie. The company currently has products in the market and an expanding pipeline that will allow it to generate stable revenues and profits in the future.

History says that the average bear market lasted 289 days (about nine months). But several of the 26 bear markets since 1929 have lasted longer than a year. Moreover, the average decline in a bear market is around 34%. This suggests that the major indexes may have some way to go.

That knowledge and about $5 these days will buy you a cup of coffee. The thing is, we don't know how long this bear market will last. All the more reason to position your portfolio to succeed with quality stocks of companies that have products that will remain in demand - and to pay you a dividend for your patience.