5 High Dividend S&P 500 Stocks

4. Walgreens Boots Alliance, Inc. (NYSE:WBA)

Number of Hedge Fund Holders: 42

Dividend Yield as of April 26: 4.19%

Walgreens Boots Alliance, Inc. (NYSE:WBA) is an Illinois-based holding company that operates retail pharmacies, offering pharmaceutical drugs and personal care products. Walgreens Boots Alliance, Inc. (NYSE:WBA) has a 46-year history of increasing dividends consistently, and the company offers a dividend yield of 4.19% as of April 26. 

On March 31, Walgreens Boots Alliance, Inc. (NYSE:WBA) posted its financial results for the quarter ending February 2022. The company reported earnings per share of $1.59, above analysts’ estimates by $0.19. Revenue for the period grew 3% year-over-year to $33.76 billion, outperforming market consensus by $422.74 million. 

Walgreens Boots Alliance, Inc. (NYSE:WBA) declared on January 27 a $0.4775 per share quarterly dividend, in line with previous. The dividend was distributed on March 11, to shareholders of record on February 18. 

Cowen analyst Charles Ryhee on April 12 reiterated an Outperform rating on Walgreens Boots Alliance, Inc. (NYSE:WBA) but lowered the firm’s price target on the shares to $50 from $55. After viewing the Q2 results, the analyst believes his long-term thesis remains sound, but he noted that the short-term macro environment remains a headwind for Walgreens Boots Alliance, Inc. (NYSE:WBA).

According to the fourth quarter database of Insider Monkey, 42 hedge funds were long Walgreens Boots Alliance, Inc. (NYSE:WBA), up from 37 funds in the preceding quarter. Cliff Asness’ AQR Management is a notable shareholder of the company, with a position worth $117.3 million. 

Here is what Miller Howard Investments has to say about Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in its Q3 2021 investor letter:

“While optimistic about a recovery, we continue to balance our cyclical holdings with dividend-payers in stable, less economically-sensitive industries. We took a position in Walgreens (WBA) based on its low valuation, high dividend yield, and stable business model.”