5 Best June Dividend Stocks To Buy

3. Medtronic plc (NYSE:MDT)

Ex-Dividend Date: June 22
Dividend Yield as of May 27: 3.39%

Medtronic plc (NYSE:MDT) ranks third on our list of the best dividend stocks. It will be trading ex-dividend on June 22. The company hiked its dividend by 1.5% on May 25 to $0.69, which marked its 46th consecutive year of dividend growth. The stock’s dividend yield stood at 3.39% on May 27.

Medtronic plc (NYSE:MDT) recently announced earnings beat its fiscal Q4 2023 and FY23 report. In view of this, both Stifel and Evercore ISI raised their price targets on the stock in May to $92 and $100, respectively.

As of the close of Q1 2023, 52 hedge funds in Insider Monkey’s database were long Medtronic plc (NYSE:MDT). The collective value of stakes owned by these hedge funds is over $1.64 billion.

Carillon Tower Advisers mentioned Medtronic plc (NYSE:MDT) in its Q4 2022 investor letter and said:

“Medtronic plc (NYSE:MDT) announced disappointing clinical trial results for a new product in its pipeline and lowered its fiscal 2023 financial guidance due to lingering supply chain issues and slower than expected medical procedure recovery.”

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