5 Best Pharma Stocks to Buy Now

2. AbbVie Inc. (NYSE: ABBV)

Number of Hedge Fund Holders: 83

AbbVie is one of the best pharma stocks to buy now. The stock is up 40% over the last 12 months. Earlier this year, the company won FDA approval for HUMIRA (adalimumab) for the treatment of moderately to severely active ulcerative colitis in pediatric patients.  With over 5% dividend yield, AbbVie is also a solid option for income investors. The company has a strong track record in terms of dividend growth. The company’s revenue jumped 60% in the fourth quarter of 2020 while the management gave upbeat guidance for 2021.

Warren Buffett’s Berkshire Hathaway is one of the 83 hedge funds tracked by Insider Monkey having stakes in ABBV at the end of the fourth quarter. The fund owns over 25.5 million shares of the company.