5 Best High Yield Stocks To Buy

4. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 61
Dividend Yield as of December 4: 6.95%

An American telecommunications company, Verizon Communications Inc. (NYSE:VZ) is next on our list of the best dividend stocks with high yields. The company pays a quarterly dividend of $0.665 per share, having raised it by 1.9% in September this year. Through this increase, the company stretched its dividend growth streak to 17 years, which makes VZ one of the best dividend stocks. As of December 4, the stock has a dividend yield of 6.95%.

The number of hedge funds tracked by Insider Monkey owning stakes in Verizon Communications Inc. (NYSE:VZ) grew to 61 in Q3 2023, from 53 in the previous quarter. The collective value of these stakes is roughly $1.4 billion.

Mairs & Power mentioned Verizon Communications Inc. (NYSE:VZ) in its Q3 2023 investor letter. Here is what the firm has to say:

“Thanks to the excitement around AI, we are finding attractive opportunities in so-called old economy industries and/or value-orientated names. One such opportunity that we added to in the quarter was Verizon Communications Inc. (NYSE:VZ). Verizon is the largest wireless operator in the United States and benefits from large barriers to entry thanks to government regulation and the billions of dollars needed to maintain a cellular network. T-Mobile (TMUS) has historically been a thorn in Verizon’s side but recently has become more disciplined on pricing. In fact, T-Mobile’s most recent unlimited data phone plan is more expensive than both AT&T’s (T) and Verizon’s. We are also excited about Verizon’s fixed wireless access opportunity, in which the internet is delivered to consumers’ homes via cellular network instead of cable. In addition to long-term potential, Verizon offers an attractive 8% dividend yield.”