5 Dividend Aristocrats to Buy for 2022

3. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 81

Dividend Yield: 4.50%

Number of Years of Consecutive Dividend Growth: 49

AbbVie Inc. (NYSE:ABBV) is an extremely popular dividend aristocrat among the hedge funds, with 81 funds being bullish on the stock in the third quarter, holding stakes worth $4.14 billion. Billionaire Warren Buffett’s Berkshire Hathaway is the leading stakeholder of AbbVie Inc. (NYSE:ABBV), with $14.39 million shares worth $1.55 billion. 

AbbVie Inc. (NYSE:ABBV) is a pharmaceutical company that was created in 2013 as a result of a corporate spin off from Abbott Laboratories (NYSE:ABT). AbbVie Inc. (NYSE:ABBV) is engaged in clinical research and medical pipelines, with therapeutic focus areas including immunology, oncology, neuroscience, virology, and eye care. 

On October 29, AbbVie Inc. (NYSE:ABBV) announced earnings for Q3. EPS in the quarter totaled $3.33, exceeding estimates by $0.11. Revenue over the period jumped 11.33% to $14.34 billion, outperforming estimates by $43.28 million. 

Wells Fargo analyst Mohit Bansal on December 8 initiated coverage of AbbVie Inc. (NYSE:ABBV) with an Overweight rating and a $165 price target. 

Here is what Artisan Value Fund has to say about AbbVie Inc. (NYSE:ABBV) in its Q3 2021 investor letter:

“Our sales included Abbvie, a biopharmaceutical company. Abbvie was a smaller position in the portfolio. We had concerns about its capital allocation and a stretched balance sheet, so we chose to move on.”