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 read our detailed analysis of dividend stocks and their performance over the years, go directly to read 15 Best Dividend Stocks To Buy and Hold.

5. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 58
Dividend Yield as of April 21: 3.17%

Medtronic plc (NYSE:MDT) is an American medical device company, based in Minnesota. On March 2, the company declared a quarterly dividend of $0.68 per share, which was in line with its previous dividend. The stock’s dividend yield came in at 3.17%, as of April 21. It is one of the best dividend stocks on our list as it has raised its dividends consistently for the past 45 years.

In its fiscal Q3 2023, Medtronic plc (NYSE:MDT) reported revenue of $7.7 billion, which was consistent with its revenue reported during the same period last year. At the end of January 2023, it had roughly $3.8 billion in operating cash flow and its free cash flow came in at roughly $2.5 billion.

As of the end of Q4 2022, Medtronic plc (NYSE:MDT) was a part of 58 hedge fund portfolios, up from 55 in the previous quarter, according to Insider Monkey’s data. The collective value of these stakes is over $2.6 billion.

Carillon Tower Advisers mentioned Medtronic plc (NYSE:MDT) in its Q4 2022 investor letter. Here is what the firm has to say:

“Medtronic plc (NYSE:MDT) announced disappointing clinical trial results for a new product in its pipeline and lowered its fiscal 2023 financial guidance due to lingering supply chain issues and slower than expected medical procedure recovery.”