In this article, we will discuss 5 best consistent dividend stocks to buy. If you want to read our detailed discussion on dividend stocks and their past performance, go directly to read 15 Best Consistent Dividend Stocks to Buy.
5. Medtronic plc (NYSE:MDT)
Dividend Yield as of November 9: 3.36%
Medtronic plc (NYSE:MDT) is an American medical device company that provides related services and solutions to its consumers around the globe. In October, Barclays initiated its coverage on the stock with an Equal Weight rating and a $90 price target, appreciating the company’s strong fundamentals.
Medtronic plc (NYSE:MDT) currently pays a quarterly dividend of $0.68 per share. The company is one of the best dividend stocks on our list as it has been raising its payouts consistently for the past 45 years. As of November 9, the stock has a dividend yield of 3.36%.
At the end of Q2 2022, 54 hedge funds tracked by Insider Monkey owned stakes in Medtronic plc (NYSE:MDT), the same as in the previous quarter. These stakes have a total value of over $2.48 billion.
Artisan Partners mentioned Medtronic plc (NYSE:MDT) in its Q2 2022 investor letter. Here is what the firm has to say:
“While Medtronic plc (NYSE:MDT)’s procedure volumes recovered to pre-COVID levels, foreign exchange headwinds overshadowed underlying business value growth, and supply chain issues, including those related to China’s lockdowns, impacted the surgical innovations business. The downdraft in the market during the quarter led to a pile-on. We are being patient with our investment in Medtronic because the company continues to be a strong free cash flow generator and is attractively priced, with a FCF yield of 5% on trailing one-year numbers and a dividend yield of 3%. Medtronic is under new management that is focused on growing the company’s top line, reinvesting in R&D, returning cash to shareholders and growing operating profits. We like new management’s strategy and believe new product launches, increased surgery visits, sound M&A transactions and a shareholder returns focus, should reinvigorate the business. We added to our positions in these health care names during the quarter.”
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4. Kimberly-Clark Corporation (NYSE:KMB)
Dividend Yield as of November 9: 3.71%
Kimberly-Clark Corporation (NYSE:KMB) is a Texas-based multinational manufacturing company that produces paper-based consumer products. In Q3 2022, the company reported an operating cash flow of $798 million, up from $782 million during the same period last year. It also paid $392 million in dividends to shareholders during the quarter, compared with $385 million paid during the prior-year period.
Kimberly-Clark Corporation (NYSE:KMB) has been raising its dividends consistently for the past 49 years, which makes it one of the best dividend stocks on our list. It currently offers $1.16 per share in quarterly dividends and has a dividend yield of 3.71%, as of November 9.
In October, Evercore ISI appreciated the constructive pricing in the company’s tissue business that could help it to rebuild margins. The firm initiated its coverage on the stock with an In-Line rating and a $135 price target.
As of the close of Q2 2022, 24 hedge funds in Insider Monkey’s database owned stakes in Kimberly-Clark Corporation (NYSE:KMB), down from 33 in the previous quarter. These stakes hold a collective value of $507.2 million. Ray Dalio, Ken Griffin, and Cliff Asness were the company’s major stakeholders in Q2.
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3. Stanley Black & Decker, Inc. (NYSE:SWK)
Dividend Yield as of November 9: 4.28%
Stanley Black & Decker, Inc. (NYSE:SWK) manufactures industrial products and other security products. In Q3 2022, the company reported revenue of $4.1 billion, which showed a 9% growth from the same period last year. At the end of October, the company had over $408 million available in cash and cash equivalents, compared with $142 million nine months ago. It expects to generate $300 million to $600 million in free cash flow in Q4 2022.
Stanley Black & Decker, Inc. (NYSE:SWK), one of the best dividend stocks, has been making regular dividend payments to shareholders for the past 146 years. Moreover, the company has raised its payouts consecutively since 1968. It currently pays a quarterly dividend of $0.80 per share and has a dividend yield of 4.28%, as of November 9.
In October, Mizuho maintained a Neutral rating on Stanley Black & Decker, Inc. (NYSE:SWK) with an $80 price target, expressing concerns regarding the challenging market environment.
As of the close of Q2 2022, 32 hedge funds in Insider Monkey’s database owned stakes in Stanley Black & Decker, Inc. (NYSE:SWK), compared with 38 a quarter earlier. The collective value of these stakes is roughly $497 million. Among these hedge funds, Greenhaven Associates was the company’s leading stakeholder in Q2.
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2. International Business Machines Corporation (NYSE:IBM)
Dividend Yield as of November 9: 4.77%
An American multinational tech company, International Business Machines Corporation (NYSE:IBM) has been making consistent dividend payments since 1916. The company has raised its dividends for 27 years in a row, which places it as one of the best dividend stocks on our list. It currently pays a quarterly dividend of $1.65 per share and has a dividend yield of 4.77%, as of November 9.
In October, Morgan Stanley maintained an Overweight rating on International Business Machines Corporation (NYSE:IBM) with a $152 price target, appreciating the company’s revenue growth over the past years.
In the first nine months of the year, International Business Machines Corporation (NYSE:IBM) reported an operating cash flow of $6.5 billion and its free cash flow came in at $4.1 billion. During Q3 2022, the company returned $1.5 billion to shareholders in dividends, which shows that the company’s cash generation is strong.
At the end of the June quarter of 2022, 40 hedge funds in Insider Monkey’s database owned stakes in International Business Machines Corporation (NYSE:IBM), compared with 43 in the previous quarter. These stakes have a total value of over $948.3 million.
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1. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)
Dividend Yield as of November 9: 5.14%
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is an American multinational company that operates retail pharmacy chains, Walgreens and Boots. In November, Truist raised its price target on the stock to $44 with a Hold rating on the shares, highlighting the company’s footprint expansion, synergies, and service redirection.
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is one of the best dividend stocks on our list as it has been raising its dividends consistently for the past 41 years. It currently pays a quarterly dividend of $0.48 per share and has a dividend yield of 5.14%, as of November 9.
Of the 895 hedge funds in Insider Monkey’s database, 40 funds hold stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in Q2 2022, compared with 38 in the previous quarter. These stakes have a total value of roughly $600 million. Camber Capital Management was one of the company’s leading stakeholders in Q2.
You can also take a look at 13 Best Consumer Staples Dividend Stocks to Buy Now and 12 Best Financial Dividend Stocks to Invest In
