In this article, we will be looking at the 5 best safe blue chip dividend stocks. If you want to see our detailed analysis of dividend investing, go directly to the 10 Best Safe Blue Chip Dividend Stocks.
5. AT&T Inc. (NYSE: T)
Number of Hedge Fund Holders: 63
Number of Years of Consistent Dividend Growth: 36
Dividend Yield: 7.36%
AT&T Inc. (NYSE: T) is a communication services company providing telecommunication, media, and technology services across the world. The company ranks 5th on our list of the best safe blue chip dividend stocks.
This July, Tigress Financial analyst Ivan Feinseth commented on AT&T Inc.’s (NYSE: T) recent WarnerMedia sale, stating that the transaction can be expected to bring in higher gains in return on capital alongside higher profitability for AT&T Inc. (NYSE: T). Feinseth has thus reiterated his Buy rating on the company’s shares alongside the initiation of a 12-month target price of $36.
In the first quarter of 2021, AT&T Inc. (NYSE: T) had an EPS of $0.86, beating estimates by $0.08. The company’s revenue was $43.94 billion, up 2.71% year over year and beating estimates by $1.27 billion.
By the end of the first quarter of 2021, 63 hedge funds out of the 866 tracked by Insider Monkey held stakes in AT&T Inc. (NYSE: T) worth roughly $2.70 billion. This is compared to 58 hedge funds in the previous quarter with stakes worth about $1.045 billion.
4. Medtronic plc (NYSE: MDT)
Number of Hedge Fund Holders: 65
Number of Years of Consistent Dividend Growth: 44
Dividend Yield: 1.97%
Medtronic plc (NYSE: MDT) is a health care equipment provider that manufactures device-based medical therapies for distribution to hospitals, physicians, clinicians, and patients across the world. The company ranks 4th on our list of the best safe blue chip dividend stocks.
This June, Piper Sandler analyst Matt O’Brien retained his Overweight rating on Medtronic plc (NYSE: MDT) shares alongside a $140 price target despite the company’s discontinuation of the sale of its HeartWare HVAD pump system. O’Brien commented that the company is now free to focus on more profitable areas of business, hence his decision to keep the positive rating.
In the fiscal fourth quarter of 2021, Medtronic plc (NYSE: MDT) had an EPS of $1.50, beating estimates by $0.08. The company’s revenue was $8.19 billion, also beating estimates by $59.18 million and representing a 36.51% growth year over year. Medtronic plc (NYSE: MDT) has also gained about 9.36% in the past 6 months and 10.1% in the past year.
By the end of the first quarter of 2021, 65 hedge funds out of the 866 tracked by Insider Monkey held stakes in Medtronic plc (NYSE: MDT) worth roughly $3.62 billion. This is compared to 59 hedge funds in the previous quarter with stakes worth about $2.81 billion.
3. Exxon Mobil Corporation (NYSE: XOM)
Number of Hedge Fund Holders: 65
Number of Years of Consistent Dividend Growth: 38
Dividend Yield: 5.85%
Exxon Mobil Corporation (NYSE: XOM) is an energy company operating in the exploration and production of crude oil and natural gas in the US and internationally. The company ranks 3rd on our list of the best safe blue chip dividend stocks.
This July, BMO Capital’s Phillip Jungwirth initiated coverage of Exxon Mobil Corporation (NYSE: XOM) shares with a Market Perform rating and a $69 price target, indicating a 21% upside.
In the first quarter of 2021, Exxon Mobil Corporation (NYSE: XOM) had $0.65 in EPS, beating consensus estimates by about $0.05. The company’s revenue for the quarter was $59.15 billion, up 5.32% year over year and also beating estimates by $2.89 billion. Exxon Mobil Corporation (NYSE: XOM) has gained 24.31% in the past 6 months and 43.45% year to date.
By the end of the first quarter of 2021, 65 hedge funds out of the 866 tracked by Insider Monkey held stakes in worth roughly $2.77 billion. This is compared to 63 hedge funds in the previous quarter with stakes worth about $2.20 billion.
2. McDonald’s Corporation (NYSE: MCD)
Number of Hedge Fund Holders: 67
Number of Years of Consistent Dividend Growth: 45
Dividend Yield: 2.18%
McDonald’s Corporation (NYSE: MCD) is one of the biggest multinational restaurant franchises in the US. The company offers a range of food products and beverages at its franchises and ranks 2nd on our list of the best safe blue chip dividend stocks.
This June, Wells Fargo’s Jon Tower raised the firm’s price target on McDonald’s Corporation (NYSE: MCD) shares from $262 to $268, keeping an Overweight rating on the stock.
McDonald’s Corporation (NYSE: MCD) had an EPS of $1.92 in the first quarter of 2021, beating estimates by about $0.10. The company’s revenue was $51.2 billion, up about 8.7% year over year and beating estimates by $89.33 million. McDonald’s Corporation (NYSE: MCD) has also gained 12.97% in the past 6 months and 12.80% year to date.
By the end of the first quarter of 2021, 67 hedge funds out of the 866 tracked by Insider Monkey held stakes in McDonald’s Corporation (NYSE: MCD) worth roughly $3.78 billion. This is compared to 62 hedge funds in the previous quarter with stakes worth about $2.88 billion.
1. The Procter & Gamble Company (NYSE: PG)
Number of Hedge Fund Holders: 70
Number of Years of Consistent Dividend Growth: 65
Dividend Yield: 2.52%
The Procter & Gamble Company (NYSE: PG) is a consumer staples company providing branded consumer packaged goods in North and Latin America, and internationally. Some of its major brands include Gillette, Rejoice, Safeguard, and Secret, and it operates through its Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care segments. The company ranks 1st on our list of the best safe blue chip dividend stocks.
JPMorgan retained its Overweight rating on The Procter & Gamble Company (NYSE: PG) shares this April, while UBS has also initiated coverage of the stock this June with a Neutral rating and a $138 price target.
In the fiscal third quarter of 2021, The Procter & Gamble Company (NYSE: PG) had an EPS of $1.26, beating estimates by $0.07. The company’s revenue was $18.11 billion, also beating estimates by $147.79 million. It has gained 2.37% in the past 6 months and 0.12% year to date as well.
By the end of the first quarter of 2021, 70 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Procter & Gamble Company (NYSE: PG) worth roughly $8.53 billion. This is compared to 83 hedge funds in the previous quarter with stakes worth about $10.42 billion.
You can also take a peek at 20 Largest European Companies by Market Cap and 15 Fastest Growing Dividend Stocks.
