5 Dividend Growth Stocks Popular on Robinhood

2. Walmart Inc. (NYSE:WMT)

Dividend Yield as of April 4: 1.48%

Number of Years of Consecutive Dividend Increases: 49

Number of Hedge Fund Holders: 63

Walmart Inc. (NYSE:WMT) is well on its way to becoming a dividend king, with 49 years of consistent dividend increases under its belt. Walmart Inc. (NYSE:WMT) is an Arkansas-based retailer that operates via a network of supercenters, supermarkets, hypermarkets, cash and carry stores, discount stores, and ecommerce websites. 

Walmart Inc. (NYSE:WMT) declared on February 17 a $0.56 per share quarterly dividend, a 1.8% increase from its prior dividend of $0.55. The dividend was paid on April 4, to shareholders of the company as of March 18. Walmart Inc. (NYSE:WMT)’s dividend yield on April 4 came in at 1.48%. 

On March 16, Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating and a $167 price target on Walmart Inc. (NYSE:WMT) shares. The analyst believes that Walmart Inc. (NYSE:WMT)’s fintech startup, ONE, is creating an “affordable and broadly accessible digital platform” and he expects ONE to increase customer engagement and brand affinity to Walmart Inc. (NYSE:WMT)’s primary retail business. 

Rajiv Jain’s GQG Partners is the largest stakeholder of Walmart Inc. (NYSE:WMT), with a position worth $1.5 billion. Overall, 63 hedge funds were bullish on the company at the end of the fourth quarter of 2021.