5 Healthcare Dividend Stocks Hedge Funds are Buying

In this article, we will be looking at the 5 healthcare dividend stocks that hedge funds are buying. To read our detailed analysis of the healthcare sector, you can go directly to see the 10 Healthcare Dividend Stocks Hedge Funds are Buying.

5. AbbVie Inc. (NYSE: ABBV)

Number of Hedge Fund Holders: 72
Dividend Yield: 4.5%

AbbVie Inc. (NYSE: ABBV) is a provider of pharmaceuticals to consumers internationally, and ranks 5th on our list of healthcare dividend stocks that hedge funds are buying. The company’s products target a range of medical and health issues, and it is based in North Chicago, Illinois.

Vamil Divan, an analyst at Mizuho, this August raised his price target on shares of AbbVie Inc. (NYSE: ABBV) from $128 to $131. The analyst also reiterated a Buy rating on the stock.

In the second quarter of 2021, AbbVie Inc. (NYSE: ABBV) had an EPS of $3.11, beating estimates by $0.08. The company’s revenue was $13.96 billion, up 33.90% year over year and beating estimates by $322.64 million. AbbVie Inc. (NYSE: ABBV) has gained 11.40% in the past 6 months and 12.33% year to date.

By the end of the first quarter of 2021, 72 hedge funds out of the 866 tracked by Insider Monkey held stakes in AbbVie Inc. (NYSE: ABBV) worth roughly $5.9 billion. This is compared to 83 hedge funds in the previous quarter with a total stake value of approximately $7 billion.