You'll find a lot more bargains during post-Christmas sales than you will in the stock market. The major market indexes are at all-time highs. After a fantastic run following the market meltdown earlier this year, valuations are at least a little frothy.

You can still find some stocks available at a discount. If you've got $5,000 to invest, here are three stocks that are ridiculously cheap right now.

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1. AbbVie 

AbbVie (NYSE:ABBV) is one of the least expensive big pharma stocks on the market. Its shares currently trade at only 8.6 times expected earnings. The potential for AbbVie's earnings to increase over the next few years is looking pretty good.

Many investors focus on the glaring negative for AbbVie: the coming sales decline for Humira. It's true that the top-selling autoimmune disease drug faces biosimilar rivals in the U.S. beginning in 2023 and will almost certainly experience a significant drop in sales.

However, AbbVie has two successors to Humira already on the market with Rinvoq and Skyrizi. The company now projects combined peak sales of $15 billion for the two drugs -- not too much below Humira's current sales -- after Gilead Sciences decided to give up seeking U.S. approval for filgotinib in treating rheumatoid arthritis. 

AbbVie has several other growth drivers as well, including blood cancer drugs Imbruvica and Venclexta, plus antipsychotic drug Vraylar. Don't overlook the company's attractive dividend yield of around 5%. With improving growth prospects, a fantastic dividend, and a bargain valuation, AbbVie looks like a solid pick for the new year. 

2. Bristol Myers Squibb

Believe it or not, Bristol Myers Squibb (NYSE:BMY) is even cheaper than AbbVie. The big drugmaker's shares trade at 8.4 times expected earnings. That valuation is even more appealing when you factor in BMS' strong growth prospects.

Sure, sales for blockbuster blood cancer drug Revlimid are likely to fall once generic rivals reach the market in 2022. However, BMS' acquisition of Celgene last year gives it plenty of other drugs with tremendous potential. Put multiple myeloma drug Pomalyst/Imnovid near the top of that list. The Celgene deal also brought up-and-comers into BMS' lineup, including multiple sclerosis drug Zeposia and Reblozyl, which treats anemia associated with rare blood disorder beta thalassemia and myelodysplastic syndromes.

Additional potential blockbusters could be on the way soon. BMS hopes to win regulatory approvals for cancer cell therapies ide-cel and liso-cel over the next few months. In addition, the company should be able to jump-start sales growth for its blockbuster cancer immunotherapy Opdivo by picking up additional approved indications.

With this promising stable of approved drugs and pipeline candidates, Wall Street analysts project that BMS will deliver average annual earnings growth of more than 21% over the next five years. As a bonus, the company's dividend yields close to 3.2%. BMS checks off the boxes for all kinds of investors -- value, income, and growth.

3. Viatris

Rounding out our list of ridiculously cheap stocks is one that didn't even exist until last month. Viatris (NASDAQ:VTRS) was formed in November from the merger of Mylan and Pfizer's Upjohn unit. Its shares are dirt cheap, trading at a super-low 4.4 times expected earnings.

No, Viatris isn't likely to be a millionaire-maker kind of stock. The company is loaded down with drugs such as Lyrica that are losing market share to generic rivals. Viatris itself sells generic drugs in a global market that presents significant headwinds, including pricing pressures in the U.S. and China. 

Even with these challenges, though, Viatris expects to deliver solid earnings growth over the next few years as it realizes cost synergies from the Mylan-Upjohn merger. Within the next five years, the company should return to robust revenue growth.

The biggest draw for Viatris, though, will almost certainly be its dividend. The company should soon announce its first dividend. Look for a yield in the ballpark of 5%. Viatris could be a great fit for income-seeking investors wanting to find a bargain.

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.