5 Best July Dividend Stocks To Buy

3. AbbVie Inc. (NYSE:ABBV)

Ex-Dividend Date: July 13

AbbVie Inc. (NYSE:ABBV) is next on our list of the best dividend stocks. The American pharmaceutical company has 50 years of consistent dividend growth under its belt. It currently pays a quarterly dividend of $1.48 per share for a dividend yield of 4.38%, as of July 3.

As of the close of Q1 2023, 75 hedge funds in Insider Monkey’s database reported having stakes in AbbVie Inc. (NYSE:ABBV), compared with 73 in the previous quarter. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder in Q1.

Harding Loevner mentioned AbbVie Inc. (NYSE:ABBV) in its Q1 2023 investor letter. Here is what the firm has to say:

“One of our two new additions to the portfolio is AbbVie Inc. (NYSE:ABBV), a US drugmaker best known for Humira, a medicine used to treat a variety of autoimmune diseases. AbbVie is building upon its maturing blockbuster Humira business by expanding its stable of autoimmune-disorder treatments with launches such as Skyrizi and Rinvoq, which have been well received and should support continued growth. Separately, we believe the slowdown in venture capital funding may foster more collaboration between biotechnology companies with promising, early-stage pipelines and large pharmaceutical companies. This may allow AbbVie to supplement its own pipeline at cheaper valuations than biotechs had commanded in recent years.”