1 Magnificent Dividend Stock Down 30% to Buy and Hold Forever

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Abbott Laboratories (NYSE: ABT) is highlighted as a compelling dividend stock, with its shares currently down 30% over the past year. Despite recent challenges in nutrition and diagnostics sales, the company possesses growth opportunities through acquisitions like Exact Sciences and its FreeStyle Libre continuous glucose monitoring devices. As a Dividend King with a 2.8% forward dividend yield, Abbott Laboratories is presented as an attractive investment for long-term holders, especially at its current valuation.

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