S&P 500 Dividend Aristocrats: Top 5 Among Hedge Funds

In this article, we will discuss the 5 S&P 500 dividend aristocrats popular among hedge funds. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read S&P 500 Dividend Aristocrats List: Sorted By Hedge Fund Popularity. 

5. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 73

AbbVie Inc. (NYSE:ABBV) is an Illinois-based biotech company that specializes in drug and treatment discovery. The company has recently announced its collaboration with Capsida Biotherapeutics to develop genetic therapies for serious eye diseases. Abbvie will be responsible for the development and commercialization of this program.

AbbVie Inc. (NYSE:ABBV), one of the top dividend stocks among hedge funds, currently pays a quarterly dividend of $1.48 per share. The stock has a dividend yield of 3.92%, as of February 24. The company has been raising its dividends consistently for the past 50 years.

As of the close of Q4 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.”