5 Best Dividend Aristocrat Stocks To Buy Now

In this article, we discuss 5 best dividend aristocrats to buy now. If you want to read our detailed analysis of dividend investments and the performance of dividend stocks in the past, go directly to read 14 Best Dividend Aristocrat Stocks To Buy Now. 

5. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 73

AbbVie Inc. (NYSE:ABBV) is an American healthcare company that provides innovative medicines and solutions to address complex health issues. On February 16, the company declared a quarterly dividend of $1.48 per share, which fell in line with its previous dividend. The company has raised its payouts for 50 consecutive years, which makes it one of the best dividend aristocrat stocks on our list. The stock has a dividend yield of 3.79%, as of March 20.

In February, Guggenheim initiated its coverage on AbbVie Inc. (NYSE:ABBV) with a Buy rating and a $172 price target, appreciating the company’s various businesses.

At the end of December 2022, 73 hedge funds in Insider Monkey’s database reported owning stakes in AbbVie Inc. (NYSE:ABBV), compared with 80 in the previous quarter. The collective value of these stakes is over $1.5 billion.

Baron Funds mentioned AbbVie Inc. (NYSE:ABBV) in its Q3 2022 investor letter. Here is what the firm has to say:

“AbbVie Inc. (NYSE:ABBV) is a drug developer best known for Humira, an immunosuppressant that is the best selling drug of all time. Given outsized key product risk (patent cliff and generic launches beginning in 2023), AbbVie has broadened its pipeline, highlighted by its Allergan acquisition. Shares fell on results that missed consensus and indications that legacy franchises were outperforming newer product launches, calling into question AbbVie’s long-term strategy. With promising assets in the pipeline and its robust cash flow profile, we believe AbbVie will grow well into the future.”