10 Best Stocks For Dividends

7. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 62

A Georgia-based home improvement company, The Home Depot, Inc. (NYSE:HD) is next on our list of the best dividend stocks. The company offers a quarterly dividend of $2.09 per share, having raised it by 10% on February 21. This was the company’s 13th consecutive year of dividend growth. The stock’s dividend yield on March 25 came in at 2.95%.

At the end of Q4 2022, 62 hedge funds tracked by Insider Monkey reported owning stakes in The Home Depot, Inc. (NYSE:HD), with a total value of over $4.8 billion.

Matrix Asset Advisors mentioned The Home Depot, Inc. (NYSE:HD) in its Q3 2022 investor letter. Here is what the firm has to say:

“During the quarter, we re-established a position in The Home Depot, Inc. (NYSE:HD) sold earlier this year, after the shares declined sharply on big picture concerns about a softer housing market and lower consumer spending. We believe that HD is a very well-managed company, positioned to continue showing good profits even as the economy decelerates. The products it carries in inventory are in year-round demand from contractors and homeowners wanting to maintain and improve their homes. The company has historically been shareholder friendly, repurchasing shares and increasing the dividend, most recently by 15% earlier this year. On September 30, HD’s current dividend yield was 2.8%.”