5 Dividend Stocks to Buy Now Before Recession Begins

2. JPMorgan Chase & Co. (NYSE:JPM)

Dividend Yield as of August 3: 3.56%

An American multinational investment bank, JPMorgan Chase & Co. (NYSE:JPM) holds a strong 12-year track record of consistent dividend growth. In the past five years, the company boosted its dividend at a CAGR of 15%. During Q2 2022, the company paid nearly $3 billion in dividends, up from $1.7 billion paid in the previous quarter. JPMorgan Chase & Co. (NYSE:JPM) pays a quarterly dividend of $1 per share, with a dividend yield of 3.56%, as of August 3.

In July, RBC Capital expressed concerns about difficult capital market businesses and set a $130 price target on JPMorgan Chase & Co. (NYSE:JPM) with an Outperform rating on the shares.

At the end of Q1 2022, 110 hedge funds tracked by Insider Monkey owned stakes in JPMorgan Chase & Co. (NYSE:JPM), up from 107 in the previous quarter. The collective value of these stakes is over $5 billion. With over 7.7 million shares, Fisher Asset Management was the company’s leading stakeholder in Q1.

Carillon Tower Advisers mentioned JPMorgan Chase & Co. (NYSE:JPM) in its Q1 2022 investor letter. Here is what the firm has to say:

“More cyclical sectors, including technology and consumer discretionary, were among the weakest, likely due to rising interest rates and inflation. It was encouraging to see the quarter finish on a strong note with the S&P 500 only about 5% away from its all-time highs. Shares of JPMorgan Chase (NYSE:JPM) detracted from performance due to the company’s increased expense guidance, announced in January.”