In this article, we will be taking a look at the 5 best blue chip dividend stocks. To read our detailed analysis of dividend investing, you can go directly to see the 10 Best Blue Chip Dividend Stocks.
5. Genuine Parts Company (NYSE:GPC)
Number of Hedge Fund Holders: 29
Dividend Yield: 2.4%
Genuine Parts Company (NYSE:GPC), a US-based service organization, is renowned as one of the best blue chip dividend stocks to invest in. The company distributes automotive replacement parts, industrial replacement parts, office products, and electrical or electronic materials.
In the second quarter, 29 hedge funds held stakes in Genuine Parts Company (NYSE:GPC), worth $418 million. The previous quarter, 26 hedge funds held stakes in the company worth $357 million.
4. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Holders: 88
Dividend Yield: 2.6%
Johnson & Johnson (NYSE:JNJ), a healthcare company, is among the more famous players in the medical industry. It is thus among the best blue chip dividend stocks to buy, and operates through its subsidiaries such as Janssen Pharmaceuticals and Janssen Cilag.
As of this October, Raymond James analyst Jayson Bedford holds an Outperform rating on shares of Johnson & Johnson (NYSE:JNJ).
For the third quarter, Johnson & Johnson (NYSE:JNJ) reported an EPS of $2.60, beating estimates by $0.25. The company’s revenue was $23.34 billion. Johnson & Johnson (NYSE:JNJ) has also gained 5.44% year to date and 9.39% in the past year.
From 873 hedge funds, 88 held stakes in Johnson & Johnson (NYSE:JNJ) in the second quarter. In the first quarter 81 held stakes in the company. The total values of their stakes were $7.1 billion and $6.9 billion respectively.
3. The Coca-Cola Company (NYSE:KO)
Number of Hedge Fund Holders: 62
Dividend Yield: 3%
The Coca-Cola Company (NYSE:KO), a world-famous food and beverage company, is among the best blue chip dividend stocks investors have been eyeing. The company operates as an MNC incorporated under Delaware’s General Corporation Law.
Morgan Stanley’s Dara Mohsenian holds an Overweight rating and a $65 price target on shares of The Coca-Cola Company (NYSE:KO) as of this November.
The Coca-Cola Company’s (NYSE:KO) third quarter results show an EPS of $0.65, beating estimates by $0.07. The company’s revenue was $10.04 billion, beating estimates by $321.89 million. The company has also gained 3.44% in the past six months and 7.30% year to date.
As of the second quarter, 62 hedge funds held stakes in The Coca-Cola Company (NYSE:KO), compared to 61 hedge funds in the previous quarter.
2. 3M Company (NYSE:MMM)
Number of Hedge Fund Holders: 42
Dividend Yield: 3.2%
3M Company (NYSE:MMM), an American MNC, operates in the industry, worker safety, US healthcare, and consumer goods fields. The company is renowned as one of the best blue chip dividend stocks to buy.
JPMorgan’s Stephen Tusa holds a Neutral rating on shares of 3M Company (NYSE:MMM) as of this November.
The EPS for 3M Company (NYSE:MMM) in the third quarter was $2.45, beating estimates by $0.24. The company’s revenue was $8.94 billion, beating estimates by $285.13 million. 3M Company (NYSE:MMM) has also gained 6.86% year to date and 5.64% in the past year.
Out of 873, 42 hedge funds held stakes in 3M Company (NYSE:MMM) in the second quarter, with a total stake value of $1.6 billion. Comparatively, 41 hedge funds held stakes in the company in the previous quarter, worth $1.5 billion.
1. Northwest Natural Holding Company (NYSE:NWN)
Number of Hedge Fund Holders: 11
Dividend Yield: 4.2%
Northwest Natural Holding Company (NYSE:NWN) is a natural gas distribution company and is one of the best blue chip dividend stocks income investors can buy today. The company is based in Portland, Oregon, and operates through subsidiary companies like NW Natural, NW Natural Water Company, LLC, and others.
Northwest Natural Holding Company’s (NYSE:NWN) third quarter earnings report shows an EPS of -$0.67, beating estimates by $0.07. The company’s revenue was $101.45 million, also beating estimates by $0.52 million. Northwest Natural Holding Company (NYSE:NWN) has also gained 0.90% year to date.
According to our hedge fund data for the second quarter, 11 hedge funds held stakes in the company in this quarter, worth $14.2 million. In comparison, 10 hedge funds held stakes in the company in the first quarter, worth $28 million.
See also 10 Best Defense Stocks To Buy Now and 10 Biggest Phone Companies In The World.
