5 Best Stocks to Buy for Income

2. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 74
Dividend Yield as of October 28: 4.53%

AbbVie Inc. (NYSE:ABBV) is an American multinational pharmaceutical company that develops and manufactures a wide range of prescription medications for various medical conditions. The company announced a 4.7% hike in its quarterly dividend to $1.55 per share on October 27. This marked the company’s 51st consecutive year of dividend growth, which makes ABBV one of the best stocks for income. As of October 28, the stock offers a dividend yield of 4.53%.

At the end of June 2023, 74 hedge funds tracked by Insider Monkey reported having stakes in AbbVie Inc. (NYSE:ABBV), compared with 75 in the previous quarter. The consolidated value of these stakes is over $2.3 billion.

Follow Abbvie Inc. (NYSE:ABBV)