5 Stocks That Recently Hit All-Time Highs

1. AbbVie Inc. (NYSE:ABBV)

All-Time Share Price High: $150.41 on March 03, 2022

Number of Hedge Fund Holders: 82

AbbVie Inc. (NYSE:ABBV) is an Illinois-based company that sells pharmaceuticals worldwide, and the stock reached an all-time share price high of $150.41 on March 03, 2022. Hedge fund sentiment around AbbVie Inc. (NYSE:ABBV) was bullish in Q4 2021, as 82 funds reported owning stakes in the company, with collective stakes amounting to $3.74 billion. Ric Dillon’s Diamond Hill Capital is the biggest shareholder of AbbVie Inc. (NYSE:ABBV), with 2.2 million shares worth $299.4 million. 

AbbVie Inc. (NYSE:ABBV) on February 17 declared a $1.41 per share quarterly dividend, in line with previous. The dividend is payable on May 16, to shareholders of record on April 15. AbbVie Inc. (NYSE:ABBV)’s dividend yield on March 3 came in at 3.80%. 

On March 1, Citi analyst Andrew Baum raised the price target on AbbVie Inc. (NYSE:ABBV) to $170 from $155 and reiterated a Buy rating on the shares. The analyst increased estimates due to greater optimism for Rinvoq across all indications and the anticipated delay of generic Imbruvica in the U.S. until at least 2032.

Here is what Miller Howard Investments had to say about AbbVie Inc. (NYSE:ABBV) in its Q3 2021 investor letter:

“While optimistic about a recovery, we continue to balance our cyclical holdings with dividend-payers in stable, less economically-sensitive industries. We hold three pharmaceutical companies, (which includes) AbbVie (ABBV). All three have strong cash flows and balance sheets, making their high dividends reasonably safe. The investment controversy surrounding these pharma companies is whether they can develop or acquire new products to replace their current blockbuster drugs. The low valuations on these stocks reflects what we believe to be undue pessimism by investors on the prospects for new drugs.”

You can also take a look at 10 Gold Stocks to Buy Amid Russian Attack on Ukraine and 10 Companies That Topped Profit Expectations.

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