5 Best Quality Dividend Stocks To Invest In

In this article, we discuss 5 best quality dividend stocks to invest in. If you want to read our detailed analysis of quality dividend companies and their performance over the years, go directly to read 12 Best Quality Dividend Stocks To Invest In.

5. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 59
Dividend Yield as of February 13: 3.28%

Medtronic plc (NYSE:MDT) is a multinational medical technology company and is one of the world’s largest medical device companies, focusing on the development, manufacturing, and marketing of medical devices and technologies to treat various chronic diseases. In December 2023, the company declared a quarterly dividend of $0.69 per share, which was consistent with its previous dividend. Overall, the company has raised its dividends for 46 consecutive years. The stock has a dividend yield of 3.28%, as of February 13.

At the end of September 2023, 59 hedge funds tracked by Insider Monkey reported having stakes in Medtronic plc (NYSE:MDT), compared with 63 in the previous quarter. These stakes are collectively worth over $2 billion.

4. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 65
Dividend Yield as of February 13: 3.00%

PepsiCo, Inc. (NASDAQ:PEP) is a New York-based multinational food and beverage corporation. It is one of the world’s leading companies in the food and beverage industry, with a diverse portfolio of products that includes beverages, snacks, and various other food items. On February 9, the company declared a 7.1% hike in its annual dividend to $5.42 per share. This was the company’s 52nd consecutive year of dividend growth, which makes PEP one of the best quality dividend stocks on our list. As of February 13, the stock has a dividend yield of 3.00%.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q3 2023, 65 funds owned stakes in PepsiCo, Inc. (NASDAQ:PEP), compared with 68 in the preceding quarter. These stakes have a collective value of more than $4.3 billion.

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 72
Dividend Yield as of February 13: 4.34%

Chevron Corporation (NYSE:CVX) is next on our list of the best quality dividend stocks to invest in. The American multinational energy company recently grew its dividend for the 37th consecutive year. Currently, it pays a quarterly dividend of $1.63 per share and has a dividend yield of 4.34%, as of February 13.

Chevron Corporation (NYSE:CVX) was included in 72 hedge fund portfolios at the end of Q3 2023, compared with 73 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $21.4 billion.

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79
Dividend Yield as of February 13: 3.75%

Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest publicly traded international oil and gas companies. The company is involved in various aspects of the energy industry, including exploration, production, refining, transportation, and marketing of petroleum and natural gas, as well as petrochemicals and other chemical products. It has been growing its dividends for 41 consecutive years and pays a quarterly dividend of $0.95 per share. The stock’s dividend yield on February 13 came in at 3.75%.

Insider Monkey’s database for Q3 2023 indicated that 79 hedge funds held stakes in Exxon Mobil Corporation (NYSE:XOM), growing from 71 in the preceding quarter. The total worth of these stakes is over $4.4 billion. With over 13 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q3.

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 84
Dividend Yield as of February 13: 3.05%

Johnson & Johnson (NYSE:JNJ) tops our list of the best quality dividend stocks to invest in. The multinational healthcare company offers a quarterly dividend of $1.19 per share and has a dividend yield of 3.05%, as of February 13. It maintains a 61-year streak of consistent dividend growth.

As of the end of the September quarter of 2023, 84 hedge funds reported owning stakes in Johnson & Johnson (NYSE:JNJ), according to our database. Their collective stake value is over $4.1 billion.

You can also take a look at 11 Best Small Cap Electric Vehicle Stocks to Invest In and 14 Best US Stocks For Foreign Investors