5 Best Diversified Dividend Stocks To Invest In

In this article, we discuss 5 best diversified dividend stocks to invest in. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 13 Best Diversified Dividend Stocks To Invest In. 

5. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 62

3M Company (NYSE:MMM) is an American multinational conglomerate, with operations spanning various industries and sectors. the company pays 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’s dividend yield on February 21 came in at 6.62%.

Of the 933 hedge funds in Insider Monkey’s database at the end of Q4 2023, 62 funds reported having stakes in 3M Company (NYSE:MMM), up from 54 in the preceding quarter. The collective value of these stakes is over $1.75 billion. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q4.

4. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 71

The Procter & Gamble Company (NYSE:PG) is a multinational consumer goods company that manufactures and markets a wide range of consumer products across several categories. The company offers a quarterly dividend of $0.9407 per share and has a dividend yield of 2.36%, as of February 21. It is one of the best dividend stocks on our list as the company holds a 67-year track record of consistent dividend growth.

The number of hedge funds tracked by Insider Monkey owning stakes in The Procter & Gamble Company (NYSE:PG) stood at 71 in Q4 2023, down from 75 in the previous quarter. The consolidated value of these stakes is roughly $6 billion.

3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ) is next on our list of the best diversified dividend stocks. The multinational corporation operates in the pharmaceutical, medical devices, and consumer health sectors. The company has raised its dividends for 61 years in a row and currently offers a quarterly dividend of $1.19 per share. The stock’s dividend yield on February 21 came in at 3.02%.

Insider Monkey’s database of Q4 2023 indicated that 81 hedge funds owned stakes in Johnson & Johnson (NYSE:JNJ), down from 84 in the preceding quarter. The overall value of these stakes is nearly $4 billion. Fisher Asset Management owned over 6.3 million shares in the company, becoming its leading stakeholder in Q4.

2. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 90

Danaher Corporation (NYSE:DHR) is a multinational conglomerate with a diverse portfolio of businesses operating in various sectors, including life sciences, diagnostics, environmental and applied solutions, and dental technologies. The company slashed its dividend by 11.1% in December 2023 and currently offers a quarterly dividend of $0.24 per share. The stock has a dividend yield of 0.39%, as of February 21.

As of the end of Q4 2023, 90 hedge funds in Insider Monkey’s database reported having stakes in Danaher Corporation (NYSE:DHR), down from 103 in the previous quarter. The consolidated value of these stakes is more than $6.4 billion.

1. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 92

General Electric Company (NYSE:GE) tops our list of the best dividend stocks. The Massachusetts-based multinational conglomerate operates in various industries, including aviation, healthcare, renewable energy, power, and digital industries. The company currently pays a quarterly dividend of $0.08 per share and has a dividend yield of 0.22%, as recorded on February 21.

General Electric Company (NYSE:GE) ended Q4 2023 with 92 hedge fund positions, growing significantly from 76 in the previous quarter, according to Insider Monkey’s database. The stakes owned by these hedge funds have a collective value of over $12.2 billion.

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