5 Best European Dividend Stocks to Buy Now

4. Novartis AG (NYSE:NVS)

Dividend Yield as of October 22: 4.31%

Novartis AG (NYSE:NVS) is a multinational pharmaceutical corporation with headquarters in Switzerland. It is one of the largest pharmaceutical companies in the world. The company is one of the best dividend stocks on our list as it has been raising its payouts consistently for the past 25 years. It currently pays an annual dividend of CHF 3.10 per share and has a dividend yield of 4.31%, as of October 22.

In the second quarter of 2022, Novartis AG (NYSE:NVS) reported a free cash flow of $3.3 billion and its net income came in at $1.7 billion. The company’s Q2 sales grew by 5% and generated $12.7 billion in total revenues. In 2021, it paid nearly $7.5 billion in annual dividends to shareholders, reflecting its shareholder obligation.

In September, Kepler Cheuvreux upgraded Novartis AG (NYSE:NVS) to Buy with a CHF 90 price target. The firm mentioned the company’s growing sales but also expressed concerns regarding its research and development abilities.

As of the close of Q2 2022, 22 hedge funds tracked by Insider Monkey owned stakes in Novartis AG (NYSE:NVS), up from 21 in the previous quarter. These stakes have a total value of over $1.76 billion. Fisher Asset Management is the company’s largest stakeholder in Q2, owning stakes worth over $950.6 million.