5 Best Dividend Paying Stocks To Buy Now

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 139
Dividend Yield as of March 14: 0.66%

Mastercard Incorporated (NYSE:MA) is a New York-based financial services company that provides a wide range of related services to its consumers. The company’s recent quarterly earnings were lauded by Street analysts. In January, both Mizuho and Barclays raised their price targets on the stock to $405 and $437, respectively.

Mastercard Incorporated (NYSE:MA), one of the best dividend-paying stocks on our list, currently pays a quarterly dividend of $0.57 per share and has a dividend yield of 0.66%, as of March 14. In 2022, the company extended its dividend growth streak to 10 years.

At the end of the December quarter 2022, 139 hedge funds owned stakes in Mastercard Incorporated (NYSE:MA), compared with 146 a quarter earlier. The collective value of these stakes is over $15.6 billion.

Baron Funds mentioned Mastercard Incorporated (NYSE:MA) in its Q4 2022 investor letter. Here is what the firm has to say:

“Shares of global payment network Mastercard Incorporated (NYSE:MA) increased after reporting strong quarterly results, with 15% revenue growth and 13% EPS growth despite significant headwinds from currency movements and the suspension of operations in Russia. Payment volume grew 21% in local currency (excluding Russia) as consumer spending remained resilient and the international travel recovery continued as border restrictions were lifted. We continue to own the stock due to Mastercard’s long runway for growth and significant competitive advantages.”