With very little trading time left in what has been a disappointing 2015, many investors are trying to sort out the landscape for 2016. One thing is for sure, despite the Federal Reserve raising rates last week, they are going to move very slowly with ensuing rate hikes, and the data will have to remain strong to support increases. For investors looking for yield, quality will remain just as important as quantity.

One odd anomaly since the Fed hiked rates is that yields on the five-year, 10-year and 30-year Treasuries have all dropped, and that certainly doesn’t point to investors being concerned about a spike in rates. We screened the Jefferies Franchise Picks list for the top-yielding stocks that reside on what is the firm’s selection of top recommendations. We found four with solid yields, and outstanding growth potential.

AbbVie

This is one of the top global pharmaceutical stocks at Jefferies. AbbVie Inc. (NYSE: ABBV) is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to develop and market advanced therapies that address some of the world’s most complex and serious diseases. AbbVie employs more than 26,000 people worldwide and markets medicines in more than 170 countries

The stock fell 10% in late October after the FDA warning about liver risk with the company’s hepatitis C (HCV) products. However, Jefferies points out that this applies to a small sub-population of cirrhotics who are 5% or less of the total patient population. Also, the next generation HCV product could be launched as early as 2017. Even of the entire Viekira Pak/Technivie business were lost over the next two years, it represents only 4% of net percentage value.

Recently, AbbVie announced a five-year growth plan that is very shareholder friendly. It predicts total sales of about $37 billion in 2020, reflecting roughly 10% average sales growth over the next five-year period. For the third quarter, the company reported a profit of $1.24 billion, a significant increase from the $506 million it earned in the same quarter of 2014. The company’s sales increased by 8.40% year over year to $5.94 billion.

AbbVie investors receive a solid 3.96% dividend. The $85 Jefferies price target is among the highest on Wall Street. The Thomson/First Call consensus price target is $73.53. Shares closed Tuesday at $56.20.

AT&T

This company posted very solid third-quarter numbers, and many on Wall Street think the fourth quarter will be good as well. AT&T Inc. (NYSE: T) is the world’s largest provider of pay TV, with TV customers in the United States and 11 Latin American countries. Its wireless network has the self-described strongest 4G LTE signal and most reliable 4G LTE in the United States. It also helps businesses worldwide serve their customers better with mobility and highly secure cloud solutions.

Trading at a very cheap 11.7 times estimated 2016 earnings, the company continues to expand its user base, and strong product introductions from smartphone vendors have not only driven traffic, but increased device financing plans.

AT&T reiterated 2015 guidance for double-digit revenue growth and continued consolidated margin expansion. Management expects capital spending to increase sequentially and also estimates that free cash flow could be better than $4.5 billion. Third-quarter wireless subscriber additions came in higher than many Wall Street estimates, and DirecTV saw positive video additions where many expected losses.

AT&T investors receive an outstanding 5.51% dividend. The Jefferies price target is $40, and the consensus estimate is $37.04. Shares closed Tuesday at $34.41.
Pfizer

This stock could be offering investors the best value at current trading levels. Pfizer Inc. (NYSE: PFE) has a very strong pipeline, and being the world’s largest drug manufacturer by sales value supports the Wall Street notion that Pfizer can generate higher long-term revenues through the accelerated growth of its new drugs over the next five years.

Pfizer announced recently the details in what would be one of this year’s biggest deals, the $160 billion merger with Allergan. At this point, a 2016 close is a given.

The Treasury Department announced recently that it is working on new rules for corporate tax inversions, which is potentially what the Pfizer/Allergan deal would be, and could possibly throw a wrench into the negotiations. They still maintain that the standalone value for the pharmaceutical giant is $45.

Pfizer has announced that it is starting 20 clinical trials this year and more soon after on treatments to conquer cancer, as it also seeks to gain leadership in one of the hottest and most lucrative areas of medicine. Pfizer currently has eight approved cancer medicines, four of them launched in the past four years. It’s running late-stage patient tests on five of those drugs for additional uses and has three other drugs in late-stage testing, which is usually the last round before seeking regulatory’ approval. In addition, the company has 14 other drug programs in early stages.

Investors receive a 3.36% dividend. Jefferies has a $47 price target, and the consensus target is $40.27. Pfizer closed Thursday at $32.52.

Western Digital

This long-time innovator in the storage industry is a leader in the total addressable hard disk drive (HDD) market. Western Digital Corp. (NASDAQ: WDC) is an industry-leading developer and manufacturer of storage solutions that help to create, manage, experience and preserve digital content. It is responding to changing market needs by providing a full portfolio of compelling, high-quality storage products with effective technology deployment, high efficiency, flexibility and speed. Its products are marketed under the HGST and WD brands.

The most compelling news was the stunning $19 billion purchase of SanDisk. This could be a strong addition to Western Digital’s current offerings, and it could significantly benefit from SanDisk’s technology and portfolio leadership in the NAND flash semiconductor and enterprise flash systems market.

The drop off in the personal computer (PC) business helps to spur initiative in the company’s cloud business, and analysts estimate that the company’s gross profit contribution from Business Critical (cloud) drives will exceed that of PCs by the second half of next year. Of all the stocks beaten down due to the poor PC environment, Western Digital may have the most upside potential. Especially when Jefferies notes that in 2016 Enterprise HDDs will have an average three-year cost of $100 per year, versus $500 for NAND.

Investors receive a very plump 3.35% dividend. Jefferies has a whopping $95 price target, and the consensus figure is $94.96. Shares closed Tuesday at $59.69.

Combining solid dividend, that are much higher than the U.S. Treasury 10-year bond, plus the growth potential of blue chip stocks, the best ideas from Jefferies could mean solid total returns for patient aggressive growth investors.

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