5 Best Dividend Aristocrats With Over 3% Yield

3. International Business Machines Corporation (NYSE:IBM)

Dividend Yield as of October 16: 5.50%

International Business Machines Corporation (NYSE:IBM) is an American multinational technology company that manufactures and sells system hardware and software to its consumers. On October 6, President Joe Biden announced to support the company’s $20 billion worth of investments across the Hudson Valley region over the next decade. This investment will mainly deal with the development and manufacturing of semiconductors, artificial intelligence, and quantum computing.

International Business Machines Corporation (NYSE:IBM) has paid consecutive quarterly dividends since 1916. The company holds a 27-year track record of consistent dividend growth, which places it as one of the best dividend stocks on our list. In Q2 2022, the company generated enough cash to support its dividend payments worth $1.5 billion. The stock’s dividend yield stood at 5.50%, as recorded on October 16.

In October, Morgan Stanley reiterated its Overweight rating on International Business Machines Corporation (NYSE:IBM) with a $152 price target, appreciating the company’s solid revenue growth over the years. The firm also expects the company’s Q3 total constant currency revenue growth of 3.5% year-over-year.

At the end of June 2022, 40 hedge funds in Insider Monkey’s database owned stakes in International Business Machines Corporation (NYSE:IBM), down from 43 in the previous quarter. These stakes have a total value of over $948.3 million. Citadel Investment Group owned the largest position in the company in Q2.