5 Cheap Dividend Stocks With High Yields

4. Verizon Communications Inc. (NYSE:VZ)

P/E Ratio as of May 19: 7.03
Dividend Yield as of May 19: 7.22%

An American multinational telecommunications company, Verizon Communications Inc. (NYSE:VZ) is next on our list of the best dividend stocks. In April, Cowen maintained an Outperform rating on the stock with a $45 price target, highlighting the company’s growing consumer momentum.

Verizon Communications Inc. (NYSE:VZ) currently pays a quarterly dividend of $0.6525 per share with a dividend yield of 7.22%, as recorded on May 19. The company has been growing its dividends consistently for the past 16 years.

At the end of December 2022, 56 hedge funds tracked by Insider Monkey reported having stakes in Verizon Communications Inc. (NYSE:VZ), with a collective value of over $1.5 billion.

Mawer Investment Management mentioned Verizon Communications Inc. (NYSE:VZ) in its Q3 2022 investor letter. Here is what the firm has to say:

“There are a few other segments of our portfolios that displayed weakness in the quarter. Cable and telecommunication companies have been an area that has lagged the broader market as their worlds are increasingly colliding. Companies such as Verizon (NYSE:VZ) has been impacted as wireless operator is spending heavily to attract internet subscribers with fixed wired access and the cable companies are trying to build wireless businesses.”