5 Best Halal Dividend Stocks To Buy

In this article, we discuss 5 best halal dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their previous performance, go directly to read 11 Best Halal Dividend Stocks To Buy.

5. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 59

Medtronic plc (NYSE:MDT) is an American multinational medical technology company that develops and manufactures medical devices and therapies to improve patient outcomes in various healthcare areas. The company pays a quarterly dividend of $0.69 per share and has a dividend yield of 3.49%, as of November 25. It is one of the best halal stocks on our list as the company has been growing its dividends for 46 years running.

At the end of Q3 2023, 59 hedge funds tracked by Insider Monkey reported having stakes in Medtronic plc (NYSE:MDT), down from 63 in the previous quarter. The consolidated value of these stakes is more than $2.07 billion. Among these hedge funds, First Eagle Investment Management was the company’s leading stakeholder in Q3.

4. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 59

Lockheed Martin Corporation (NYSE:LMT) is a multinational aerospace, defense, arms, security, and advanced technology company that specializes in various areas within these industries. The company offers a quarterly dividend of $3.15 per share, having raised it by 5% in October this year. This marked the company’s 21st consecutive year of dividend growth, which makes LMT one of the best halal stocks on our list. The stock has a dividend yield of 2.79%, as of November 25.

The number of hedge funds in Insider Monkey’s database owning stakes in Lockheed Martin Corporation (NYSE:LMT) jumped to 60 in Q3 2023, from 52 in the preceding quarter. The total value of these stakes is more than $1.64 billion.

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 72

An American energy company, Chevron Corporation (NYSE:CVX) is next on our list of the best halal stocks. The company has rewarded shareholders with 36 consecutive years of dividend growth and it currently pays a quarterly dividend of $1.51 per share. The stock’s dividend yield on November 25 came in at 4.17%.

As of the close of Q3 2023, 72 hedge funds tracked by Insider Monkey owned investments in Chevron Corporation (NYSE:CVX), compared with 73 in the preceding quarter. The collective value of these stakes is over $21.4 billion.

2. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 73

AbbVie Inc. (NYSE:ABBV) is an American pharmaceutical company known for its focus on the research, development, and commercialization of various medications and therapies. The company offers a quarterly dividend of $1.55 per share and has a dividend yield of 4.47%, as recorded on November 25. Its dividend growth streak currently stands at 51 years, which makes ABBV one of the best halal stocks on our list.

As of the end of Q3 2023, 73 hedge funds in Insider Monkey’s database owned stakes in AbbVie Inc. (NYSE:ABBV), down from 74 a quarter earlier. The total value of these stakes is over $3.27 billion. With roughly 4 million shares, Marshall Wace LLP was the company’s leading stakeholder in Q3.

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

Exxon Mobil Corporation (NYSE:XOM) tops our list of the best halal stocks that pay dividends. The American energy company has raised its dividends for 41 consecutive years and it pays a quarterly dividend of $0.95 per share. The stock’s dividend yield on November 25 came in at 3.63%.

The number of hedge funds in Insider Monkey’s database owning stakes in Exxon Mobil Corporation (NYSE:XOM) grew to 79 in Q3 2023, from 71 in the preceding quarter. The total value of these stakes is over $4.4 billion.

You can also take a look at 12 Best Dividend Stocks Paying Over 6% and 14 Best Short-Term Stocks to Invest In