5 Best Dividend Stocks To Buy and Hold

In this article, we discuss 5 best dividend stocks to buy and hold. If you want to see more stocks in this selection, check out 14 Best Dividend Stocks To Buy and Hold. 

5. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 89

Dividend Yield as of January 17: 2.29%

The Home Depot, Inc. (NYSE:HD) operates as a home improvement retailer. The company was incorporated in 1978 and is based in Atlanta, Georgia. The Home Depot, Inc. (NYSE:HD) has 13 years of consistent dividend increases under its belt. It is one of the best dividend stocks to invest in. 

On December 13, Cowen analyst Max Rakhlenko raised the firm’s price target on The Home Depot, Inc. (NYSE:HD) to $379 from $350 and reiterated an Outperform rating on the shares. The analyst observed that the company exemplifies best-in-class retail execution with top-notch Pro share and a growing flywheel that should serve the company well into a constrained macro environment in 2023.

According to Insider Monkey’s data, 89 hedge funds were bullish on The Home Depot, Inc. (NYSE:HD) at the end of Q3 2022, up from 80 funds in the preceding quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 8.16 million shares worth $2.25 billion. 

Matrix Asset Advisors made the following comment about The Home Depot, Inc. (NYSE:HD) in its Q3 2022 investor letter:

“During the quarter, we re-established a position in The Home Depot, Inc. (NYSE:HD) sold earlier this year, after the shares declined sharply on big picture concerns about a softer housing market and lower consumer spending. We believe that HD is a very well-managed company, positioned to continue showing good profits even as the economy decelerates. The products it carries in inventory are in year-round demand from contractors and homeowners wanting to maintain and improve their homes. The company has historically been shareholder friendly, repurchasing shares and increasing the dividend, most recently by 15% earlier this year. On September 30, HD’s current dividend yield was 2.8%.”