There aren't too many more attractive combinations for income-seeking investors than a high-dividend yield and a bargain price. The bad news is that not many great stocks fit those criteria. The good news, though, is that a few do.

AbbVie (NYSE:ABBV), AT&T (NYSE:T), and Gilead Sciences (NASDAQ:GILD) claim mouthwatering dividend yields and very attractive valuations. Here's what you need to know about these three high-yield dividend stocks that you can buy on sale right now.

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1. AbbVie

AbbVie's dividend currently yields 6.5%. That fantastic yield isn't the only thing to like about the big drugmaker's dividend. The company has increased its dividend payout by nearly 168% since being spun off from Abbott Labs in 2013. AbbVie remains committed to rewarding shareholders through dividend hikes.

In addition to offering a high-dividend yield, AbbVie stock is dirt cheap. Shares trade at only a little over seven times expected earnings. That's one of the lowest valuations in the pharmaceutical industry and is especially appealing for a company that generated free cash flow of more than $9.8 billion over the last 12 months.

What's the catch? Investors are worried about declining sales for Humira and AbbVie's dependence on the immunology drug. There's also plenty of skepticism about AbbVie's pending $63 billion acquisition of Allergan.

On the other hand, AbbVie recently won an enormously important FDA approval for Rinvoq in treating rheumatoid arthritis. The company scored another victory earlier this year when the FDA approved Skyrizi for treating psoriasis. Both drugs should be megablockbusters for AbbVie and, along with current stars Imbruvica and Venclexta, help the company overcome the challenges resulting from the slipping sales of Humira.

2. AT&T

AT&T continues to rank as one of the premier dividend stocks on the market with a yield of over 5.8%. The telecommunications giant might not give shareholders huge dividend hikes, but it does claim an impressive track record of 35 consecutive years of dividend increases.

Shares currently trade at around 9.6 times expected earnings. That level makes AT&T more attractively valued than several of its peers in the telecom industry.

The company certainly faces some big challenges. AT&T's TV segment has pretty much been a mess, with subscribers bailing on DIRECTV and canceling their HBO subscriptions after the popular Game of Thrones series wrapped up. There's also a huge debt of nearly $160 billion looming like a dark cloud over the company's head.

However, AT&T's business aside from the TV segment appears to be in pretty good shape overall. The company is also steadily paying down its debt. Don't expect tremendous growth from AT&T just yet, but the rise of high-speed 5G wireless networks should provide a boost to the company in the coming years. Most importantly, AT&T should keep those nice dividends flowing.

3. Gilead Sciences

Gilead Sciences doesn't have a long track record of paying dividends -- the company initiated its dividend program just four years ago. But while the big biotech's dividend history is short, it's definitely sweet. Gilead's dividend currently yields 4%, and the company has raised its dividend payout by nearly 47% since 2015.

The stock is also priced at a bargain. Gilead's shares trade at a little over nine times expected earnings. The really good news for the company is that it has returned to revenue and earnings growth after a long decline caused by sinking sales for its hepatitis C franchise.

Gilead hasn't totally emerged from the shadow of its hep-C problems. The biotech has encountered some pipeline setbacks, notably including selonsertib flopping in late-stage studies for treating liver disease nonalcoholic steatohepatitis (NASH). Gilead could also face headwinds associated with investing in any pharmaceutical stock, particularly the threat of the U.S. government imposing limitations on how companies establish drug prices.

Still, though, the future looks brighter now for Gilead than it has looked in quite a while. Gilead has a solid new CEO in Dan O'Day. It could soon win regulatory approvals for potential blockbuster immunology drug filgotinib. The biotech's HIV drugs, especially Biktarvy, continue to perform really well. Gilead's dividend is likely to increase in the future -- and its valuation probably will, too.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.