5 Best DRIP Stocks To Buy in 2022

In this article, we will discuss the 5 best DRIP stocks to buy in 2022. To learn about similar DRIP stocks, you can go to 10 Best DRIP Stocks To Buy in 2022.

5. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 67

Dividend Yield as of April 25: 2.27%

The Procter & Gamble Company (NYSE:PG) is not only a dividend aristocrat, but it is a dividend king as well. The company has rewarded investors with regularly increased dividends for well above 60 years and has been paying dividends for 131 years. Its company’s Shareholder Investment Program is a direct stock purchase and dividend reinvestment plan, requiring an initial minimum investment of $250. The stock is ranked among the top DRIP stocks to buy in 2022 and as of April 25, The Procter & Gamble Company (NYSE:PG) has a forward yield of 2.27% and has appreciated by 24.09% over the past twelve months.

This April, The Procter & Gamble Company (NYSE:PG) reported market-beating earnings for the fiscal third quarter of 2022. The company reported earnings per share of $1.33, beating estimates by $0.04. Moreover, the company reported revenues of $19.38 billion for the quarter, up 7.02% year over year, and beat revenue estimates by $687.76 million.

On April 22, 2022, Barclays analyst Lauren Lieberman raised her price target on The Procter & Gamble Company (NYSE:PG) to $176 from $167 and maintained an Overweight rating on the shares.

According to Insider Monkey’s database, at the close of the fourth quarter of 2021, 67 hedge funds were long The Procter & Gamble Company (NYSE:PG) with stakes of $6.61 billion. This is compared to 69 hedge funds in the third quarter of 2021 with stakes worth $6.41 billion.  As of December 31, 2021, GQG Partners is the largest shareholder in the stock, owning over 7.5 million shares of stock which equate to a stake value of roughly $1.23 billion.