In this article, we discuss the 5 best money-making stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Money-Making Stocks to Buy Now.
5. Equitable Holdings, Inc. (NYSE:EQH)
Number of Hedge Funds: 46
Total Value of Hedge Fund Holdings: $1,704,423,000
1-Year Forward Dividend Yield: 2.25%
Equitable Holdings, Inc. (NYSE:EQH) is a financial services and insurance company based out of New York. The company has over 12,000 employees and assets under management of over $871 billion through its five million customers around the world. Equitable Holdings, Inc. (NYSE:EQH) announced a Q4 dividend per share of 18 cents that is payable on December 6 to all the shareholders on record until the close of trading on November 29.
In a research note issued on December 2, Alex Scott at Goldman Sachs initiated coverage on Equitable Holdings, Inc. (NYSE:EQH) with a Conviction Buy rating and a target price of $52. This provides investors an opportunity to realize a potential upside of over 66% from the prevailing stock price as of December 29. Equitable Holdings, Inc. (NYSE:EQH) has been increasing its annual dividend for three consecutive years.
The analyst foresees the company’s net investment income reallocation and reduction in expenses to play in its favor. Scott also thinks that in the past few years, Equitable Holdings, Inc. (NYSE:EQH) has made the right decisions related to risk management that will put it in a better position to face the changing accounting practices and regulatory environment as opposed to its competitors.
4. The AES Corporation (NYSE:AES)
Number of Hedge Funds: 47
Total Value of Hedge Fund Holdings: $1,481,369,000
1-Year Forward Dividend Yield: 2.68%
The AES Corporation (NYSE:AES) is one of the leading power generation companies in the world with power generation and distribution capacity in more than 15 countries, including the US. The Arlington, Virginia-based company is home to over 10,000 employees.
The Fortune 500 company announced a Q1 FY22 dividend of 15.80 cents per share, an increase of 5% on a sequential basis. The dividend will be paid out on February 15, 2022.
On December 20, the AES Corporation (NYSE:AES) announced the acquisition of Community Energy Solar. This move is expected to increase the AES Corporation’s (NYSE:AES) focus on employing renewable energy sources through the addition of a 10 GW pipeline. The terms of the deal were not disclosed to the public.
On November 29, Insoo Kim at Goldman Sachs initiated coverage on the AES Corporation (NYSE:AES) with a Buy rating and a target price of $30. The analyst expects the renewable energy pipeline to reap benefits for the AES Corporation (NYSE:AES) in the long run.
3. Ally Financial Inc. (NYSE:ALLY)
Number of Hedge Funds: 57
Total Value of Hedge Fund Holdings: $2,517,368,000
1-Year Forward Dividend Yield: 2.12%
Ally Financial Inc. (NYSE:ALLY) is a diversified financial services company based out of Detroit, Michigan. The company is one of the largest auto financing providers in the US, with 4.1 million customers entertained by over 10,000 employees.
Ally Financial Inc. (NYSE:ALLY) has over 2.45 million depositors with $139 billion in total deposits and over 503,000 brokerage accounts with a holding of $16.3 billion in assets. On October 6, Ally Financial Inc. (NYSE:ALLY) revealed a quarterly dividend of 25 cents per share to be paid on November 15 to all the shareholders in possession of the stock on November 1.
On December 1, David Long at Raymond James initiated coverage on Ally Financial Inc. (NYSE:ALLY) with a Buy rating and a price target of $55. The analyst is bullish on the outlook of the bank due to the diversification of its business model along with strong growth in customers. Long also anticipates an expansion in net interest margin (NIM) due to an increase in asset yields and optimization of Ally Financial Inc.’s (NYSE:ALLY) liabilities.
2. Medtronic plc (NYSE:MDT)
Number of Hedge Funds: 62
Total Value of Hedge Fund Holdings: 2,278,950,000
1-Year Forward Dividend Yield: 2.45%
Medtronic plc (NYSE:MDT) is an Irish-American healthcare technology corporation involved in the manufacturing and selling of medical devices. The Dublin, Ireland-based company is the biggest medical devices company globally in terms of the top line.
The devices and services provided by Medtronic plc (NYSE:MDT) aid in the treatment of over 70 health conditions. The entity divides its equipment into four portfolios, namely cardiovascular, diabetes, medical-surgical, and neuroscience.
Medtronic plc (NYSE:MDT) announced a dividend of 63 cents per share on December 9 for the third quarter of 2021. The dividend will be paid out on January 22, 2022, to all shareholders who held the stock at the close of trading on December 21. Medtronic plc (NYSE:MDT) is a part of the prestigious Dividend Aristocrat List as it has been increasing its dividend for the last 44 consecutive years.
In a research note highlighting the outlook for the medical devices’ industry for 2022, David Rescott at Truist gave Medtronic plc (NYSE:MDT) a Buy rating with a price target of $124 on December 21. Rescott arrived at the price target after incorporating the impacts of the headwinds expected to be faced by the Diabetes division following the warning letter from the Food and Drug Administration (FDA) in mid-December.
1. Comcast Corporation (NASDAQ:CMCSA)
Number of Hedge Funds: 75
Total Value of Hedge Fund Holdings: $8,547,154,000
1-Year Forward Dividend Yield: 2.04%
Comcast Corporation (NASDAQ:CMCSA) is the second biggest broadcasting and cable television organization globally. The Philadelphia, Pennsylvania-based company also happens to be the biggest broadband residential internet service provider in the US and the third biggest home TV service provider.
Comcast Corporation (NASDAQ:CMCSA) declared a quarterly dividend of 25 cents per share on October 28 for the fourth quarter of 2021, payable on January 26, 2022. The company has been increasing its dividends for the last four years.
In the past five years, Comcast Corporation (NASDAQ:CMCSA) has progressed through strong acquisitions. In August 2016, the company completed the takeover of DreamWorks Animation for $3.8 billion. Similarly, in 2018, Comcast Corporation (NASDAQ:CMCSA) acquired Sky plc for nearly $39 billion after outbidding 21st Century Fox, which held a 39% stake in Sky.
On December 15, Jeffrey Wlodarczak at Pivotal Research issued a Buy rating on Comcast Corporation (NASDAQ:CMCSA) stock with a price target of $62. The price target reflects a potential upside of nearly 24%. The analyst highlighted the favorable stock valuations as an investment opportunity for investors with patience. Wlodarczak also addressed concerns related to the cut in data subscriber growth guidance related to the company’s core broadband business by adjusting his estimates.
You can also take a peek at the 10 Best Tech Stocks to Buy Now and 10 Best Stocks to Buy for the Next 10 Years.
