13 Cheap High Dividend Stocks To Invest In Now

4. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 57

Dividend Yield as of February 17: 6.61%

P/E Ratio: 9.91

Verizon Communications Inc. (NYSE:VZ) is a New York-based provider of communications, technology, and entertainment services. On January 27, Bernstein maintained a Market Perform rating on the stock and trimmed the price target from $48 to $46. Bernstein commented that VZ concluded 2024 with solid postpaid and FWA net additions, fueled by a solid fourth quarter, and the management anticipates an even stronger 2025.

Verizon Communications Inc. (NYSE:VZ) had a strong financial year in 2024, exceeding its targets with a 3.1% growth in wireless service revenue and a 2.1% increase in adjusted EBITDA. The company generated an impressive free cash flow of $19.8 billion in 2024, allowing it to reduce debt and prepare for its upcoming acquisition of Frontier. The fourth quarter also saw $2 billion in cash flow from the Vertical Bridge tower deal, and Verizon paid $600 million in severance payments as part of a voluntary separation program. In addition, the company raised its dividend for the 18th year in a row, with a quarterly payout of $0.6775 per share in February 2025. It is one of the best dividend stocks to buy.

Among the hedge funds tracked by Insider Monkey, Verizon Communications Inc. (NYSE:VZ) was owned by 57 funds in Q3 2024, compared to 67 in the last quarter. Rajiv Jain’s GQG Partners was the biggest stakeholder of the company, with 24.7 million shares worth $1.1 billion.