5 Best Dividend Aristocrats with Over 3% Yield

In this article, we discuss 5 best dividend aristocrats with over 3% yield. If you want to read our detailed analysis of dividend stocks and their strong performance over the years, go directly to read 12 Best Dividend Aristocrats with Over 3% Yield. 

5. The Coca-Cola Company (NYSE:KO)

Number of Hedge Fund Holders: 61
Dividend Yield as of October 21: 3.37%

An American multinational beverage company, The Coca-Cola Company (NYSE:KO) is one of the most reliable dividend stocks in the market. The company has raised its payouts for 61 years straight and currently pays a quarterly dividend of $0.46 per share. The stock’s dividend yield on October 21 came in at 3.37%.

As of the end of Q2 2023, 61 hedge funds in Insider Monkey’s database reported having stakes in The Coca-Cola Company (NYSE:KO), which remained unchanged from the previous quarter. The stakes owned by these hedge funds have a total value of over $27.2 billion.

4. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 63
Dividend Yield as of October 21: 3.80%

Medtronic plc (NYSE:MDT) is an American healthcare company that mainly specializes in medical devices and offers other healthcare solutions. The company offers a quarterly dividend of $0.69 per share and has been raising its dividends consistently for the past 46 years. With a dividend yield of 3.80% as of October 21, MDT is one of the best dividend aristocrat stocks on our list.

Medtronic plc (NYSE:MDT) was a part of 63 hedge fund portfolios at the end of Q2 2023, growing from 52 in the previous quarter, according to Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $1.86 billion. With roughly 5.5 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q2.

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71
Dividend Yield as of October 21: 3.28%

Exxon Mobil Corporation (NYSE:XOM) is a Texas-based multinational oil and gas company that is also engaged in research and development efforts related to renewable and lower-carbon energy technologies. The company maintains a 40-year streak of consistent dividend growth. It pays a quarterly dividend of $0.91 per share and has a dividend yield of 3.28%, as of October 21.

Insider Monkey’s database of Q2 2023 indicated that 71 hedge funds owned stakes in Exxon Mobil Corporation (NYSE:XOM), compared with 73 in the previous quarter. Their collective stake value is over $3.08 billion.

2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 73
Dividend Yield as of October 21: 3.62%

An American energy company, Chevron Corporation (NYSE:CVX) is next on our list of the best dividend aristocrat stocks. In its most recent quarter, the company returned $2.8 billion to shareholders through dividends and holds a 36-year streak of consistent dividend growth. The company offers a quarterly dividend of $0.40 per share and has a dividend yield of 3.62%, as of October 21.

As of the end of the June quarter of 2023, 73 hedge funds in Insider Monkey’s database owned investments in Chevron Corporation (NYSE:CVX), up from 64 a quarter earlier. The collective value of these stakes is more than $21.4 billion.

1. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 74
Dividend Yield as of October 21: 4.05%

AbbVie Inc. (NYSE:ABBV) tops our list of the best dividend aristocrat stocks. The American pharmaceutical company currently pays a quarterly dividend of $1.48 per share with a dividend yield of 4.05%, as of October 21. The company has been raising its dividends consistently for the past 50 years.

As of the end of Q2 2023, 74 hedge funds tracked by Insider Monkey reported having stakes in AbbVie Inc. (NYSE:ABBV), compared with 75 in the previous quarter. The consolidated value of these stakes is over $2.37 billion.

You can also take a look at 13 Best Solar Energy Stocks To Invest In Heading Into 2024 and Top Investors’ Stock Portfolio: 10 Small-Cap Stocks To Buy

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