5 Best Large-Cap Dividend Growth Stocks To Buy Now

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In this article, we discuss 5 best large-cap dividend growth stocks to buy now. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 15 Best Large-Cap Dividend Growth Stocks To Buy Now

5. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 73
5-Year Average Dividend Growth Rate: 14.5%

AbbVie Inc. (NYSE:ABBV) is an Illinois-based pharmaceutical company that specializes in drug and treatment discovery. In April, Morgan Stanley lifted its price target on the stock to $181 and maintained an Overweight rating on the shares. The firm expects the company to deliver growth in the second half of the year.

AbbVie Inc. (NYSE:ABBV) is one of the best dividend stocks on our list as it has raised its dividends at an annual average rate of 14.5% in the past five years. Moreover, it also maintains a 50-year streak of consistent dividend growth. The company offers a quarterly dividend of $1.48 per share and has a dividend yield of 3.58%, as of April 25.

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.”

Follow Abbvie Inc. (NYSE:ABBV)


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