12 Best Performing Dividend Stocks in 2023

Published on October 30, 2023 at 6:27 am by Vardah Gill in Dividend Stocks, Hedge Funds, News

In this article, we discuss 12 best performing dividend stocks in 2023. You can skip our detailed analysis of dividend stocks and their performance in the past, and go directly to read 5 Best Performing Dividend Stocks in 2023.

Market sentiment is a dynamic and ever-shifting phenomenon where the focus of investment frequently shifts from one type to another over time. While the technology-focused NASDAQ has posted a year-to-date gain of 21.2%, it has experienced a recent decline, losing 3.81% of its value over the past month. This demonstrates the ever-changing nature of the investment landscape. For this reason, investors tend to prefer dividend-paying companies because these firms have a reputation for producing consistent earnings, even when the economy experiences slower growth. In addition to this, companies that increase their dividends have shown better performance than the overall S&P 500 index historically, offering reliable income growth across different market sizes and industry sectors. These qualities are always attractive but become especially valuable during turbulent market conditions.

Also read: Dividend Capture Strategy: 10 High Yield Stocks To Buy in November

Dan Lefkovitz, a strategist for Morningstar Indexes, spoke about dividend stocks and their underperformance this year in one of his columns. Here are some comments from the analyst:

“Overall, dividend performance this year has been lackluster. The great thing about dividend investing is that it’s got a great track record. Plus, investors get paid while they wait for performance to turn around.”

Dividends have made up about a third of the market’s returns since 1960. However, it is important to note that not all dividend investment methods are the same, and there are key distinctions between those aiming for high dividend yields and those focusing on dividend growth. In the past, stocks that consistently increase their dividends have proven to be strong performers in terms of providing reliable income, especially during periods of high market volatility. According to a report by ProShares, in 2008, the S&P 500 experienced a significant decline of 37%, whereas the Dividend Aristocrats, companies known for consistently increasing their dividends, saw a comparatively smaller loss of 21.9%. This outperformance can be attributed to the competitive edge, cautious management, and dependable dividend payments of these companies.

Given the preference of investors for dividend-paying stocks because of their capacity to generate income, numerous companies around the world have chosen to maintain their dividend payouts at a consistent level. According to data from fund manager Janus Henderson, approximately 88% of companies worldwide either raised or maintained their dividend payments during the second quarter of 2023. This trend has led to a total of $568.1 billion in dividends distributed globally since the beginning of the year. The report also mentioned that in the US, 98% of the tracked companies either increased their dividends or maintained them at existing levels, surpassing the global average.

Despite an overall decline in the performance of dividend stocks this year, NVIDIA Corporation (NASDAQ:NVDA), General Electric Company (NYSE:GE), and Eli Lilly and Company (NYSE:LLY) are some of the best-performing dividend stocks this year, generating positive returns for shareholders. In this article, we will discuss some other best-performing dividend stocks in 2023.

Our Methodology:

For this list, we looked at the top-performing stocks of 2023 and focused on dividend-paying stocks that have shown significant growth in their share prices this year. We began with a pool of fifty companies, narrowed it down by considering their share price increases, and ultimately selected the top 12 dividend stocks with the highest share price gains as of October 27, arranging them in ascending order of performance.

12. Oracle Corporation (NYSE:ORCL)

Year-to-Date Returns as of October 27: 19.92%

Number of Hedge Fund Holders: 84

Oracle Corporation (NYSE:ORCL) is a Texas-based multinational technology company known for providing a wide range of software and cloud-based services. On September 11, the company announced a quarterly dividend of $0.40 per share, which was in line with its previous dividend. The company has been raising its dividends consistently for the past eight years. The stock’s dividend yield on October 27 came in at 1.59%. Since the start of 2023, ORCL has delivered a 19.92% return to shareholders, which makes it one of the best-performing stocks this year.

The number of hedge funds tracked by Insider Monkey holding stakes in Oracle Corporation (NYSE:ORCL) jumped to 84 in Q2 2023, from 67 in the preceding quarter. The overall value of these stakes is over $3.4 billion.

Harris Associates mentioned Oracle Corporation (NYSE:ORCL) in its Q3 2023 investor letter. Here is what the firm has to say:

“Oracle Corporation (NYSE:ORCL) (U.S.), a global software company, was the Fund’s top contributor for the fiscal year, with its share price rising primarily after reporting its fiscal fourth-quarter results. More recently, Oracle announced fiscal first-quarter results, which were in line with consensus expectations. The drivers of the core business are performing well, in our view, and management expressed confidence that annual revenue growth will accelerate as planned based on demand trajectory and its strong bookings trends. For the quarter, total revenue increased 8% in constant currency (9% reported), and operating income grew 12% with margins showing improvement. Cloud and support revenue grew 11% in constant currency, powered by Fusion +20% and Netsuite +21%. The “strategic back office cloud” is now up to $6.9 billion in run-rate revenue. Infrastructure cloud and support revenue grew 14% in constant currency, powered by infrastructure cloud services +72% ex-legacy hosting services to $5.6 billion in run-rate revenue. Momentum is continuing to build as Oracle signed several deals for its cloud business greater than $1 billion in total value during the quarter and booked an additional $1.5 billion in the first week of the second quarter. We continue to believe Oracle is an attractive holding and undervalued due to our perception of its intrinsic value.”

11. Parker-Hannifin Corporation (NYSE:PH)

Year-to-Date Returns as of October 27: 26.8%

Number of Hedge Fund Holders: 41

Parker-Hannifin Corporation (NYSE:PH) is a global industrial company that specializes in motion and control technologies. The company provides a wide range of products and systems designed to control and manage motion and fluid in various industries. It currently pays a quarterly dividend of $1.48 per share and has a dividend yield of 1.60%, as reported on October 27. The company is a Dividend King with 66 consecutive years of dividend growth under its belt.

At the end of Q2 2023, 41 hedge funds in Insider Monkey’s database reported having stakes in Parker-Hannifin Corporation (NYSE:PH), compared with 49 in the previous quarter. The consolidated value of these stakes is over $565.8 million. With over 2.2 million shares, Harris Associates was the company’s leading stakeholder in Q2.

10. FedEx Corporation (NYSE:FDX)

Year-to-Date Returns as of October 27: 28.3%

Number of Hedge Fund Holders: 62

FedEx Corporation (NYSE:FDX) is next on our list of the best-performing dividend stocks in 2023. The stock has gained 28.3% year-to-date, as of October 27. The company specializes in courier delivery services and logistics and also provides a wide range of transportation, e-commerce, and business services to customers around the world.

FedEx Corporation (NYSE:FDX) currently pays a quarterly dividend of $1.26 per share, having raised it by 10% in April this year. The company has raised its dividends for 3 years in a row. As of October 27, the stock has a dividend yield of 2.21%.

FedEx Corporation (NYSE:FDX) was a part of 62 hedge fund portfolios at the end of Q2 2023, up from 55 in the previous quarter, according to our database. The stakes owned by these hedge funds have a collective value of nearly $2.5 billion.

9. Pentair plc (NYSE:PNR)

Year-to-Date Returns as of October 27: 29.1%

Number of Hedge Fund Holders: 33

Pentair plc (NYSE:PNR) is an American multinational company that specializes in providing water solutions and services. The company’s products and technologies are designed to help manage, filter, and treat water in various applications. The stock has delivered a 29.1% return to shareholders this year so far.

Pentair plc (NYSE:PNR) has been raising its dividends consistently for the past 47 years and currently pays a quarterly dividend of $0.22 per share. The stock’s dividend yield on October 27 came in at 1.51%.

As of the end of Q2 2023, 33 hedge funds in Insider Monkey’s database owned stakes in Pentair plc (NYSE:PNR), compared with 34 a quarter earlier. These stakes have a consolidated value of over $1.55 billion. With roughly 11 million shares, Impax Asset Management was the company’s leading stakeholder in Q2.

8. Apple Inc. (NASDAQ:AAPL)

Year-to-Date Returns as of October 27: 33.4%

Number of Hedge Fund Holders: 135

An American multinational tech company, Apple Inc. (NASDAQ:AAPL) has gained 33.4% year-to-date, becoming one of the best-performing stocks in 2023. The company has been rewarding shareholders with growing dividends for the past 11 years and pays a quarterly dividend of $0.24 per share. The stock has a dividend yield of 0.58%, as of October 24.

Of the 910 hedge funds in Insider Monkey’s database at the end of Q2 2023, 135 funds owned stakes in Apple Inc. (NASDAQ:AAPL), up from 131 in the previous quarter. Their collective stake value is more than $194 billion. Warren Buffett’s Berkshire Hathaway owned the largest stake in the company in Q2.

7. Applied Materials, Inc. (NASDAQ:AMAT)

Year-to-Date Returns as of October 27: 35.2%

Number of Hedge Fund Holders: 72

Applied Materials, Inc. (NASDAQ:AMAT) is an American company that operates in the semiconductor manufacturing and technology industry. The company offers a quarterly dividend of $0.32 per share and has a dividend yield of 0.98%, as of October 27. It has been rewarding shareholders with growing dividends for the past six years. With a year-to-date return of 35.2%, AMAT is one of the best-performing stocks on our list.

At the end of June 2023, 72 hedge funds tracked by Insider Monkey owned investments in Applied Materials, Inc. (NASDAQ:AMAT), worth collectively over $5.2 billion. The largest stakeholder of the company at the end of the quarter was Generation Investment Management.

6. Microsoft Corporation (NASDAQ:MSFT)

Year-to-Date Returns as of October 27: 36.8%

Number of Hedge Fund Holders: 300

Microsoft Corporation (NASDAQ:MSFT) ranks sixth on our list of the best-performing stocks in 2023. The stock has gained 36.8% since the start of this year and its 12-month return came in at 44.6%. The company pays a per-share dividend of $0.75 every quarter, growing it by 10% in September this year. Through this increase, the company took its dividend growth streak to 17 years. As of October 27, the stock has a dividend yield of 0.91%.

According to Insider Monkey’s database of Q2 2023, Microsoft Corporation (NASDAQ:MSFT) was the most popular stock among hedge funds with 300 funds owning stakes in the company. These stakes have a collective value of nearly $70 billion.

Click to continue reading and see 5 Best Performing Dividend Stocks in 2023.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

Published on November 16, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up