5 Best 5% Dividend Stocks To Buy According To Hedge Funds

In this article, we discuss 5 best 5% dividend stocks to buy according to hedge funds. If you want to read our detailed analysis of dividend stocks and their historical performance, go directly to read 12 Best 5% Dividend Stocks To Buy According To Hedge Funds. 

5. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 62
Dividend Yield as of March 15: 5.86%

3M Company (NYSE:MMM) is an American conglomerate that operates in various sectors such as industrial, healthcare, safety and graphics, electronics and energy, and consumer products. The company currently offers a quarterly dividend of $1.51 per share, having raised it by 0.7% in February this year. This marked the company’s 66th consecutive annual dividend hike, which makes MMM one of the best dividend stocks on our list. The stock has a dividend yield of 5.86%, as of March 15.

At the end of Q4 2023, 62 hedge funds tracked by Insider Monkey held stakes in 3M Company (NYSE:MMM), up from 54 in the preceding quarter. These stakes are collectively worth over $1.75 billion.