5 Best Healthcare Dividend Stocks to Buy

4. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 75

AbbVie Inc. (NYSE:ABBV) is an American pharmaceutical company, based in Illinois. The company has been raising its dividends for the past 50 years and currently pays a quarterly dividend of $1.48 per share. With a dividend yield of 4.15%, as of May 23, ABBV is one of the best dividend stocks on our list.

Wells Fargo maintained an Overweight rating on AbbVie Inc. (NYSE:ABBV) in April with a $195 price target. The firm expects the company’s immunology drugs, Rinvoq and Skyrizi, to deliver double-digit growth this year.

AbbVie Inc. (NYSE:ABBV) was a part of 75 hedge fund portfolios at the end of Q1 2023, as per Insider Monkey’s database. The number grew from 73 in the previous quarter.

Baron Funds mentioned AbbVie Inc. (NYSE:ABBV) in its Q1 2023 investor letter. Here is what the firm has to say:

“In a difficult quarter during which the Health Care sector failed to participate in the broader market rally, Baron Health Care Fund modestly trailed the Benchmark by 42 basis points, as disappointing stock selection overshadowed favorable impacts from differences in sub-industry weights and cash exposure. Lower exposure to benchmark heavyweight AbbVie Inc. (NYSE:ABBV) and declines in Cytokinetics, Incorporated, Ascendis Pharma A/S, and Inhibrx, Inc. also weighed on performance in the sub-industry. We reduced our position in AbbVie Inc. due to our less optimistic view of the company’s pipeline and long-term growth profile.”