In this article, we will be looking at the 5 best dividend achievers to buy according to hedge funds. If you want to see our detailed analysis of dividend investing, you can go directly to the 10 Best Dividend Achievers to Buy According to Hedge Funds.
5. The Procter & Gamble Company (NYSE: PG)
Number of Hedge Fund Holders: 70
Dividend Yield: 2.47%
Number of Years of Consistent Dividend Growth: 65
The Procter & Gamble Company (NYSE: PG), an American consumer goods corporation, operates across the globe to provide a range of consumer packaged goods across the globe. The company ranks 5th on our list of the best dividend achievers to buy according to hedge funds.
UBS has a Neutral rating on The Procter & Gamble Company (NYSE: PG) with a $138 price target set by analyst Peter Grom as of this June.
In the fiscal third quarter of 2021, The Procter & Gamble Company (NYSE: PG) had an EPS of $1.26, beating estimates by $0.07. The company’s revenue was $18.11 billion, up 5.2% year over year and beating estimates by $147.79 million. The Procter & Gamble Company (NYSE: PG) has also gained 8.05% in the past 6 months and 2.20% year to date.
By the end of the first quarter of 2021, 70 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Procter & Gamble Company (NYSE: PG) worth roughly $8.53 billion. This is compared to 83 hedge funds in the previous quarter with a total stake value of approximately $10.4 billion.
4. Merck & Company, Inc. (NYSE: MRK)
Number of Hedge Fund Holders: 79
Dividend Yield: 3.34%
Number of Years of Consistent Dividend Growth: 11
Merck & Company, Inc. (NYSE: MRK) is an American multinational company operating in the pharmaceuticals and medical sectors. The company is headquartered in New Jersey and ranks 4th on our list of the best dividend achievers to buy according to hedge funds.
With a $92 price target and a Buy rating, analyst Robyn Karnauskas took over coverage of Merck & Company, Inc. (NYSE: MRK) shares this July.
In the first quarter of 2021, Merck & Company, Inc. (NYSE: MRK) had an EPS of $1.40, surpassing the previous quarter’s $1.32 EPS. The company’s revenue was $12.08 billion, up 0.19% year over year but missing estimates by $567.83 million. Merck & Company, Inc. (NYSE: MRK) has also gained 4.78% in the past 6 months and 0.84% year to date.
By the end of the first quarter of 2021, 79 hedge funds out of the 866 tracked by Insider Monkey held stakes in Merck & Company, Inc. (NYSE: MRK) worth roughly $6.49 billion. This is compared to 82 hedge funds in the previous quarter with a total stake value of approximately $7.17 billion.
Artisan Partners, a high value-added investment management firm, mentioned Merck & Company, Inc. (NYSE: MRK) in its first-quarter 2021 investor letter. Here’s what they said:
“In Q1, we initiated a position in Merck, a provider of health care solutions including prescription medicines, vaccines, biologic therapies, animal health and consumer care products. We purchased Merck when the stock came under pressure in part on concerns that the newly minted Biden administration could implement regulatory changes and lower drug costs in the pharmaceutical industry. Recent, but anticipated changes to Merck’s management team have also weighed on shares, as have concerns over the company’s heavy reliance on immunotherapy treatment Keytruda. Notably, Merck is not getting much credit from investors for the 60+ programs it has in clinical development, despite having several solid and large new product opportunities. Additionally, the company’s strong balance sheet and robust free cash flow provide it multiple options for future partnerships and acquisitions. While Merck is undergoing a period of transition, we think the company’s fundamentals are strong and believe changes to management should be a catalyst for improvement.”
3. Johnson & Johnson (NYSE: JNJ)
Number of Hedge Fund Holders: 81
Dividend Yield: 2.46%
Number of Years of Consistent Dividend Growth: 59
Johnson & Johnson (NYSE: JNJ) is next on our list of the best dividend achievers to buy according to hedge funds and ranks 3rd. It is another medical company based in the US and works to develop medical devices, pharmaceuticals, and other consumer packaged goods.
Cantor Fitzgerald’s Louise Chen has an Overweight rating and a $200 price target on Johnson & Johnson (NYSE: JNJ) shares as of this June.
In the second quarter of 2021, Johnson & Johnson (NYSE: JNJ) had an EPS of $2.48, beating estimates by $0.20. The company’s revenue was $23.31 billion up 27.14% year over year and beating estimates by $802.29 million. Johnson & Johnson (NYSE: JNJ) has also gained 2.07% in the past 6 months and 10.33% year to date.
By the end of the first quarter of 2021, 81 hedge funds out of the 866 tracked by Insider Monkey held stakes in Johnson & Johnson (NYSE: JNJ) worth roughly $6.91 billion. This is compared to 81 hedge funds in the previous quarter with a total stake value of approximately $5.82 billion.
2. Bristol-Myers Squibb Company (NYSE: BMY)
Number of Hedge Fund Holders: 81
Dividend Yield: 2.9%
Number of Years of Consistent Dividend Growth: 15
Bristol-Myers Squibb Company (NYSE: BMY) operates in the pharmaceutical industry and is an American multinational corporation with headquarters in New York. It is among the world’s largest companies of its kind and has regularly made it to the Fortune 500 list of large US companies. The company ranks 2nd on our list of the best dividend achievers to buy according to hedge funds.
Robyn Karnauskas from Truist has also taken over coverage of Bristol-Myers Squibb Company (NYSE: BMY) shares this July with a Buy rating alongside a $74 price target.
In the first quarter of 2021, Bristol-Myers Squibb Company (NYSE: BMY) had an EPS of $1.74, beating estimates by $0.07. The company’s revenue was $11.07 billion, up 2.71% year over year but missing estimates by $81.41 million. Bristol-Myers Squibb Company (NYSE: BMY) has also gained 8.35% in the past 6 months and 9.95% year to date.
By the end of the first quarter of 2021, 81 hedge funds out of the 866 tracked by Insider Monkey held stakes in Bristol-Myers Squibb Company (NYSE: BMY) worth roughly $5.03 billion. This is compared to 131 hedge funds in the previous quarter with a total stake value of approximately $6.08 billion.
1. JPMorgan Chase & Co. (NYSE: JPM)
Number of Hedge Fund Holders: 111
Dividend Yield: 2.38%
Number of Years of Consistent Dividend Growth: 10
JPMorgan Chase & Co. (NYSE: JPM), a US-based multinational investment banking corporation, ranks 1st on our list of the best dividend achievers to buy according to hedge funds. The company is based in New York and offers a range of financial services to its customers.
BMO Capital has a Market Perform rating on JPMorgan Chase & Co. (NYSE: JPM) alongside a raised price target of $141 versus the previous $136 price target as of this July.
In the second quarter of 2021, JPMorgan Chase & Co. (NYSE: JPM) had an EPS of $3.78, beating estimates by $0.62. The company’s revenue was $30.48 billion and beating estimates by $762.45 million. JPMorgan Chase & Co. (NYSE: JPM) has also gained 16.4% in the past 6 months and 20.32% year to date.
By the end of the first quarter of 2021, 111 hedge funds out of the 866 tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE: JPM) worth roughly $5.25 billion. This is compared to 112 hedge funds in the previous quarter with a total stake value of approximately $6.96 billion.
You can also take a look at 10 Best Dividend Champions to Buy Now and 10 Best Dividend Aristocrats to Buy According to Hedge Funds.
