10 Best Dividend Stocks Yielding at Least 7% According to Analysts

1. Movado Group, Inc. (NYSE:MOV)

Upside Potential as of February 5: 64.6%

Dividend Yield as of February 5: 7.33%

Movado Group, Inc. (NYSE:MOV) is a New Jersey-based jewelry stores company, which is responsible for designing and distributing luxury watches for popular brands.

Over the past decade, traditional watchmakers have faced difficulties as smartphones have largely replaced the need for standalone timepieces, while the rise of smartwatches has added further competition. In response, Movado Group, Inc. (NYSE:MOV) has entered the smartwatch market with high-end models priced at $1,000 and above. While the majority of its revenue still comes from conventional watches, this strategic move allows the company to attract consumers seeking advanced technology in their timepieces.

In the third quarter of 2024, Movado Group, Inc. (NYSE:MOV) reported revenue of $182.7 million, which fell by 2.6% from the same period last year. The company’s adjusted operating income came in at $9.3 million. It maintained a solid financial standing at the end of the quarter, with $181.5 million in cash and no outstanding debt. This strong position provides the flexibility needed to carry out its strategic initiatives. It is one of the best dividend stocks on our list as the company has been making regular dividend payments to shareholders since 1996. Currently, it offers a quarterly dividend of $0.35 per share and has a dividend yield of 7.33%, as of February 5.

The hedge fund sentiment around Movado Group, Inc. (NYSE:MOV) remained bullish as hedge fund positions in the company grew to 20 at the end of Q3 2024, from 16 in the previous quarter, as per Insider Monkey’s database. The stakes held by these funds are worth $65.6 million collectively. With over 1.4 million shares, Royce & Associates was the company’s leading stakeholder in Q3.

Overall Movado Group, Inc. (NYSE:MOV) ranks first on our list of the best dividend stocks with over 7% yield. While we acknowledge the potential for MOV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MOV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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