5 Best Dividend Aristocrats to Buy According to Hedge Funds

2. AbbVie Inc. (NYSE: ABBV)

Number of Hedge Fund Holders: 72
Number of Years of Consecutive Dividend Increases: 49
Dividend Yield: 4.5%

AbbVie Inc. (NYSE: ABBV) is next on our list of the best dividend aristocrats to buy according to hedge funds and ranks 2nd. It is another healthcare company operating in the biotechnology industry to develop pharmaceuticals, like its HUMIRA therapy product, for patients across the globe.

Daiwa has initiated coverage of AbbVie Inc. (NYSE: ABBV) shares with an Outperform rating alongside a $126 price target as of this July, while Piper Sandler has retained its Overweight rating on the stock as of this June.

In the first quarter of 2021, AbbVie Inc. (NYSE: ABBV) had an EPS of $2.95, beating estimates by $0.12. The company’s revenue was $12.94 billion, up 50.08% year over year and also beating estimates by $160.24 million. AbbVie Inc. (NYSE: ABBV) has gained about 6.37% in the past 6 months and 11.51% year to date as well.

By the end of the first quarter of 2021, 72 hedge funds out of the 866 tracked by Insider Monkey held stakes in AbbVie Inc. (NYSE: ABBV) worth roughly $5.91 billion. This is compared to 83 hedge funds in the previous quarter with stakes worth approximately $6.96 billion.