11 Best Annual Dividend Stocks to Buy According to Hedge Funds

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2. Novo Nordisk A/S (NYSE:NVO)

No. of Hedge Funds: 45

Annual Dividend: $1.17

Novo Nordisk A/S (NYSE:NVO) secures a position in our list of 11 best annual dividend stocks to buy according to hedge funds. The company advances with strong Q2 results and FDA approval for the weight loss drug Wegovy.

Novo Nordisk A/S (NYSE:NVO) is a discover, developer, and marketer of pharmaceutical products, particularly for diabetes care. Based in Denmark, the company also develops treatments for other serious chronic diseases, including obesity, rare blood disorders, and endocrine diseases. It currently handles the manufacturing and marketing of its products globally.

On August 6, 2025, Novo Nordisk A/S (NYSE:NVO) reported a net sales growth of 16% year-over-year, reaching approximately 155 billion Danish kroner and a net profit growth of 22%. Additionally, the company also saw a surge in the arrival of the FDA’s approval for its weight-loss drug, Wegovy, for the treatment of adults with metabolic dysfunction-associated steatohepatitis (MASH) and moderate to advanced liver fibrosis. The approval granted on August 11, 2025, positions Wegovy as the first GLP-1 therapy for a disease that affects millions of people in the U.S. The prevalence rate is expected to increase by 63% before 2030.

With these developments, the stock received a Buy rating from Deutsche Bank and got upgraded from Sell to Hold by DBS Bank, signalling confidence among analysts. The company offers an attractive annual dividend of $1.17, and it is backed by a strong institutional interest that involves 45 hedge funds holding stakes in the ownership.

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