5 Best Diabetes Stocks To Buy Now

2. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 71     

AbbVie Inc. (NYSE:ABBV) discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company is one of the most prominent diabetes stocks to invest in. The company has an impressive dividend profile. It has consistently paid a dividend to shareholders since its inception in 2013. On September 9, the firm declared a quarterly dividend of $1.41 per share, in line with previous. The forward yield was a solid 3.99%. The dividend is payable to shareholders by early October and mid-November. 

On September 21, JPMorgan analyst Chris Schott maintained an Overweight rating on AbbVie Inc. (NYSE:ABBV) stock with a price target of $180, noting the firm was among the best large cap ideas in the pharma sector.

Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in AbbVie Inc. (NYSE:ABBV), with 4.3 million shares worth more than $645 million.  

In its Q2 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and AbbVie Inc. (NYSE:ABBV) was one of them. Here is what the fund said:

“We added to our health care exposure in the quarter with the purchases of Straumann Holding (OTCPK:SAUHF), a Swiss manufacturer of medical instruments, implants and related supplies for dental procedures, in the secular bucket and U.S. pharmaceutical maker AbbVie Inc. (NYSE:ABBV) in the structural bucket. Straumann is the global market leader in dental implants with 29% overall share, a meaningful position within premium implants and smaller share in value implants. The company is also involved in clear aligners through a series of acquisitions as well as peripheral capital equipment around those businesses.

Growth will come from increasing share in both value implants and clear aligners through expansion in emerging markets on top of market growth in its premium implant business. AbbVie is undergoing a transition in anticipation of loss of exclusivity for its blockbuster Humira in the next several years with several commercial therapeutics, led by Skyrizi for psoriasis and Rinvoq for rheumatoid arthritis.”