10 Best January Dividend Stocks To Buy

7. Abbott Laboratories (NYSE:ABT)

Ex-Dividend Date: January 15

Abbott Laboratories (NYSE:ABT) ranks seventh on our list of the best dividend stocks to buy in January. The Illinois-based medical device company also offers services and products in diagnostics, nutrition, and established pharmaceuticals. The company’s diverse operations allow it to offset challenges in one area with strength in others. Recently, this has been evident as diagnostics revenue declined due to a drop in COVID testing sales, while medical device sales saw double-digit growth.

Abbott Laboratories (NYSE:ABT) is well-regarded for its stability, built on years of experience in navigating the tightly regulated healthcare sector. The company has earned a solid reputation within its field, as healthcare professionals, like most consumers, prefer to trust products that are known to be effective, particularly in critical health situations. Moreover, it benefits from a robust portfolio of patents that protect its innovative products.

Abbott Laboratories (NYSE:ABT) is a strong dividend payer, having raised its payouts by about 60% since 2020. In addition, the company holds a 52-year streak of consistent dividend growth. It currently pays a quarterly dividend of $0.55 per share and has a dividend yield of 2.07%, as of January 5.

According to Insider Monkey’s database of Q3 2024, 63 hedge funds held stakes in Abbott Laboratories (NYSE:ABT), compared with 69 in the previous quarter. These stakes are collectively valued at approximately $4 billion.