Dividend Stock Portfolio: 5 Stock Picks By Hedge Funds

3. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 82

Dividend Yield: 4.8%

AbbVie Inc. (NYSE:ABBV), a biotech company, develops pharmaceuticals for sale across the globe. The company ranks 3rd on our list of stock picks by hedge funds and offers a range of effective therapies and treatments like their HUMIRA, SKYRIZI, and RINVOQ products.

This September, JPMorgan analyst Chris Schott reiterated an Overweight rating on shares of AbbVie Inc. (NYSE:ABBV). The analyst also has a $140 price target 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 33.9% year over year and beating estimates by $322.64 million. AbbVie Inc. (NYSE:ABBV) has gained 4.33% in the past 6 months and 5.01% year to date.

By the end of the second quarter of 2021, 82 hedge funds out of the 873 tracked by Insider Monkey held stakes in AbbVie Inc. (NYSE:ABBV) worth roughly $5.4 billion. This is compared to 72 hedge funds in the previous quarter with a total stake value of approximately $5.9 billion.