5 Best High-Dividend Stocks to Buy Right Now

In this article, we discuss 5 best high-dividend stocks to buy right now. If you want to read our detailed analysis of high-dividend stocks and their performance over the years, go directly to read 12 Best High-Dividend Stocks to Buy Right Now. 

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 50
Dividend Yield as of March 12: 5.16%

Devon Energy Corporation (NYSE:DVN) is an Oklahoma-based independent energy company primarily engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. The company announced a dividend payout of $0.44 per share, comprising two components. Firstly, the board approved a 10 percent increase in the fixed dividend to $0.22 per share. Secondly, there is a variable distribution of $0.22 per share. As of March 12, the stock has a dividend yield of 5.16%.

Of the 900+ hedge funds tracked by Insider Monkey at the end of Q4 2023, 50 funds owned stakes in Devon Energy Corporation (NYSE:DVN), compared with 52 in the previous quarter. The collective value of these stakes is more than $1.3 billion.

4. Gilead Sciences, Inc. (NASDAQ:GILD)

Number of Hedge Fund Holders: 55
Dividend Yield as of March 12: 4.11%

Gilead Sciences, Inc. (NASDAQ:GILD) is an American biopharmaceutical company that is known for developing innovative therapies for the treatment of various diseases. The company offers a quarterly dividend of $0.77 per share, growing it by 2.7% in February this year, This marked the company’s ninth consecutive year of dividend growth. With a dividend yield of 4.11% as of March 12, GILD is one of the best dividend stocks with high yields.

At the end of December 2023, 55 hedge funds invested in Gilead Sciences, Inc. (NASDAQ:GILD), the same as in the previous quarter, according to Insider Monkey’s database. The total value of these stakes is nearly $2.3 billion. With over 3.8 million shares, AQR Capital Management was the company’s leading stakeholder in Q4.

3. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Hedge Fund Holders: 60
Dividend Yield as of March 12: 4.42%

An American multinational biopharmaceutical company, Bristol-Myers Squibb Company (NYSE:BMY) is next on our list of the best dividend stocks with high yields. The company has been growing its dividends for the past 18 years and offers a quarterly dividend of $0.60 per share. As of March 12, the stock has a dividend yield of 4.42%.

As per Insider Monkey’s database of Q4 2023, 60 hedge funds owned stakes in Bristol-Myers Squibb Company (NYSE:BMY), compared with 65 in the previous quarter. These stakes have a consolidated value of nearly $2 billion.

2. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 63
Dividend Yield as of March 12: 6.65%

Verizon Communications Inc. (NYSE:VZ) is a multinational telecommunications conglomerate that operates in various segments of the telecommunications industry, providing a wide range of products and services to consumers, businesses, and government agencies. On February 29, the company declared a quarterly dividend of $0.665 per share, which was in line with its previous dividend. It holds a 17-year track record of dividend growth, which makes VZ one of the best high-dividend stocks on our list. The stock’s dividend yield came in at 6.65% on March 12.

The number of hedge funds tracked by Insider Monkey owning stakes in Verizon Communications Inc. (NYSE:VZ) grew to 63 in Q4 2023, from 61 in the previous quarter. These stakes have a total value of more than $2.6 billion. With nearly 5 million shares, AQR Capital Management was the company’s leading stakeholder in Q4.

1. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 68
Dividend Yield as of March 12: 5.51%

Philip Morris International Inc. (NYSE:PM) tops our list of the best high-dividend stocks. The world’s leading tobacco company has been rewarding shareholders with growing dividends for the past 14 years and currently pays a quarterly dividend of $1.30 per share. The stock’s dividend yield on March 12 came in at 5.51%.

Philip Morris International Inc. (NYSE:PM) ended the fourth quarter of 2023 with 68 hedge fund positions, up from 62 in the previous quarter, according to Insider Monkey’s database. The stakes owned by these hedge funds have a consolidated value of more than $5.5 billion.

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