In this article, we discuss the 5 best dividend stocks to buy now. If you want to read our detailed analysis of dividend investment strategies, the risk/reward and the methodology of this list, go directly to the 10 Best Dividend Stocks to Buy Now.
5. Verizon Communications Inc. (NYSE:VZ)
Number of Hedge Fund Holders: 58
Dividend Yield: 6.2%
American telecommunications company Verizon Communications Inc. (NYSE:VZ) offers its customers data and video service solutions. Verizon Communications Inc. (NYSE:VZ) is one of the largest telecommunication companies in the United States and it benefits from increased data usage. As of August, the firm now pays a quarterly dividend of $0.64 per share, for a yield of 6.2%.
When looking at the institutional investors followed by Insider Monkey, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in Verizon Communications Inc. (NYSE:VZ). Fisher Asset Management has $879.83 million position in the stock, comprising 0.62% of its 13F portfolio.
As per Insider Monkey’s Q2 2022 database, 58 hedge funds were bullish on Verizon Communications Inc. (NYSE:VZ). The stakes owned by these hedge funds are valued at over $2.29 billion.
Weitz Investment Management mentioned Verizon Communications Inc. (NYSE:VZ) in its Q4 2021 investor letter. Here is what the firm had to say:
“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”
4. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 59
Dividend Yield: 3.6%
Headquartered in California, Chevron Corporation (NYSE:CVX) is a multinational that operates in the energy industry. Warren Buffett’s Berkshire Hathaway is the largest stakeholder in Chevron Corporation (NYSE:CVX) with shares valued at $23.37 billion comprising 7.78% of its 13F portfolio.
For the past 34 years, Chevron Corporation (NYSE:CVX) has continuously increased its dividends. The company’s stock, as of September 3, has a yield of 3.6% and pays a quarterly dividend of $1.42 per share.
Diamond Hill Capital mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm had to say:
“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”
3. Cisco Systems, Inc. (NASDAQ:CSCO)
Number of Hedge Fund Holders: 63
Dividend Yield: 3.41%
Cisco Systems, Inc. (NASDAQ:CSCO), is an American global tech company offering its clients cloud and security solutions. The company’s stock, as of September 3, has a yield of 3.41% and pays a quarterly dividend of $0.38 per share.
At the end of Q2 2022, 63 hedge funds tracked by Insider Monkey were bullish on Cisco Systems, Inc. (NASDAQ:CSCO). These stakes are collectively valued at around $1.91 billion.
Carillon Tower Advisers mentioned Cisco Systems, Inc. (NASDAQ:CSCO) in its Q1 2022 investor letter. Here is what the firm has to say:
“Cisco Systems (NASDAQ:CSCO) traded lower as investors weighed how supply chain concerns would impact sales growth. The company has been upgrading its switching and routing offerings, which should lead to strong demand as on-site locations upgrade infrastructure.”
2. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 65
Dividend Yield: 4.68%
Based in Santa Clara, California, Intel Corporation (NASDAQ:INTC) is a multinational corporation that specializes in cloud computing and manufacturing semiconductor chips. In terms of revenue, it is the biggest producer of semiconductor chips in the world. As of September 2022, it had a dividend yield of 4.68% and paid a quarterly dividend of $0.365 per share.
At the end of Q2 2022, 65 hedge funds tracked by Insider Monkey were bullish on Intel Corporation (NASDAQ:INTC). These stakes are collectively valued at around $2.53 billion.
Although its stock is lower by almost 40% YTD, Intel Corporation (NASDAQ:INTC) is investing tens of billions into new factories and R&D to regain market share.
1. JPMorgan Chase & Co. (NYSE:JPM)
Number of Hedge Fund Holders: 104
Dividend Yield: 3.52%
JPMorgan Chase & Co. (NYSE:JPM) is an American global financial services and investment banking firm. The firm has a $1.00 per share quarterly dividend as of September 2022 and a dividend yield of 3.52%.
If there is an economic slowdown or recession, JPMorgan Chase & Co. (NYSE:JPM) has strong business fundamentals that could help it grow its dividend once the economy recovers.
Many hedge funds also like the stock. At the end of Q2, 104 hedge funds in Insider Monkey’s database held shares in JPMorgan Chase & Co. (NYSE:JPM) with the total value of those stakes exceeding $5.8 billion.
You can also take a look at 10 Best Dividend Stocks of All Time and 10 Best Vanguard ETFs to Invest In.
