5 Best Dividend Stocks Hedge Funds are Buying

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1. AbbVie Inc. (NYSE: ABBV)

Number of Hedge Fund Holders: 82
Dividend Yield: 4.4%

AbbVie Inc. (NYSE: ABBV) is a US-based publicly traded healthcare and biopharmaceuticals company. It ranks 1st on our list of the best dividend stocks hedge funds are buying and came about as a spin-off company of Abbott Laboratories.

Barclays analyst Carter Gould this August raised the price target on shares of AbbVie Inc. (NYSE: ABBV) from $105 to $112. The analyst also holds an Equal Weight rating on the stock.

In the second quarter of 2021, AbbVie Inc. (NYSE: ABBV) had an EPS of $3.11, beating estimates by $0.08. The company’s revenue was $13.96 billion, up 33.90% year over year and beating estimates by $322.64 million. AbbVie Inc. (NYSE: ABBV) has gained 11.69% in the past 6 months and 11.27% year to date.

By the end of the second quarter of 2021, 82 hedge funds out of the 873 tracked by Insider Monkey held stakes in AbbVie Inc. (NYSE: ABBV) worth roughly $5.4 billion. This is compared to 72 hedge funds in the previous quarter with a total stake value of approximately $5.9 billion.

You can also take a look at 25 Countries That Have The Most Debt Per Capita and 10 Best Monthly Dividend Stocks in 2021.

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