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.