5 Best Dividend Stocks to Buy According to Billionaire Richard Chilton

4. AbbVie Inc. (NYSE: ABBV)

Chilton’s Stake Value: $798,000
Percentage of Richard Chilton’s 13F Portfolio: 0.02%
Dividend Yield: 4.53%
No. of Hedge Fund Holders: 83

AbbVie Inc. (NYSE: ABBV) is a specialist in discovering, developing, producing, and selling pharmaceuticals worldwide. In its financial results for Q1 2021, the company reported net revenues of $13.010 billion on a GAAP Basis, representing a 51.0% increase compared to a reported basis. Adjusted net revues during the quarter amounted to $13 billion. 

Allergan Aesthetics, a subsidiary of AbbVie Inc. (NYSE: ABBV), has signed an agreement to acquire Soliton and its Rapid Acoustic Pulse device called RESONICTM, which recently received clearance from the U.S. Food and Drug Administration (FDA). 

RESONICTM is a non-invasive treatment for short-term improvement in the appearance of cellulite. The deal is expected to bolster the Allergan Aesthetics’ Body Contouring treatment portfolio that already has a number of products like CoolSculpting® Elite.

The Committee for Medicinal Products for Human Use (CHMP) of the EMA has adopted a positive opinion for AbbVie Inc. (NYSE: ABBV)’s Venclyxto (venetoclax), which is used together with hypomethylating agents in the treatment of newly diagnosed acute myeloid leukemia (AML) in adult patients who cannot be subjected to intensive chemotherapy. The European Commission is set to give the final determination on Venclyxto combination therapy in the first half of 2021. AbbVie and Roche are developing Venetoclax.