5 Best American Dividend Stocks To Buy Now

In this article, we discuss 5 best American dividend stocks to buy now. If you want to read our detailed analysis of dividend stocks and their previous performance, go directly to read 15 Best American Dividend Stocks To Buy Now.

5. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

Exxon Mobil Corporation (NYSE:XOM) is an American multinational oil and gas company that is involved in various aspects of the energy industry. The company offers a quarterly dividend of $0.95 per share, having raised it by 4.4% on October 27. This marked the company’s 41st consecutive year of dividend growth, which makes XOM one of the best dividend stocks on our list. The stock’s dividend yield on November 4 came in at 3.53%.

At the end of Q2 2023, 71 hedge funds tracked by Insider Monkey reported having stakes in Exxon Mobil Corporation (NYSE:XOM), compared with 73 a quarter earlier. These stakes are collectively worth over $3.08 billion.

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 73

QUALCOMM Incorporated (NASDAQ:QCOM) is a global technology company primarily known for its contributions to the wireless communications industry. On October 13, the company declared a quarterly dividend of $0.80 per share, which was consistent with its previous dividend. The company has raised its dividends for 19 consecutive years. With a dividend yield of 2.68%, as of November 4, QCOM is one of the best dividend stocks on our list.

According to Insider Monkey’s database of Q2 2023, 73 hedge funds owned stakes in QUALCOMM Incorporated (NASDAQ:QCOM), growing from 69 in the previous quarter. The consolidated value of these stakes is over $2.3 billion.

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 73

Chevron Corporation (NYSE:CVX) is next on our list of the best dividend stocks. The American energy company announced a quarterly dividend of $1.51 per share on October 27, which remained unchanged from its previous dividend. However, the company has been rewarding shareholders with growing dividends for the past 36 consecutive years. The stock has a dividend yield of 4.09%, as of November 4.

The number of hedge funds owning stakes in Chevron Corporation (NYSE:CVX) grew to 73 in Q2 2023, from 64 in the previous quarter, as per Insider Monkey’s database. The total value of these stakes is over $21.4 billion. With over 123 million shares, Berkshire Hathaway was the company’s leading stakeholder in Q2.

2. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 74

The Procter & Gamble Company (NYSE:PG) is a multinational consumer goods company known for manufacturing and marketing a wide range of consumer products. The company offers a quarterly dividend of $0.9407 per share and has a dividend yield of 2.51%, as of November 4. With a 67-year streak of dividend growth, PG is one of the best dividend stocks on our list.

At the end of the June quarter of 2023, 74 hedge funds tracked by Insider Monkey held stakes in The Procter & Gamble Company (NYSE:PG), with a total value of over $5.3 billion.

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Johnson & Johnson (NYSE:JNJ) tops our list of the best dividend stocks to buy now. The American multinational healthcare company offers a quarterly dividend of $1.19 per share for a dividend yield of 3.15%, as recorded on November 4. The company holds a 61-year track record of dividend growth.

At the end of Q2 2023, 88 hedge funds tracked by Insider Monkey reported having stakes in Johnson & Johnson (NYSE:JNJ), up from 86 in the previous quarter. The consolidated value of these stakes is over $4.1 billion.

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