In this article, we discuss 5 best dividend king stocks to buy now. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 14 Best Dividend Kings Stocks to Buy Now.
5. AbbVie Inc. (NYSE:ABBV)
Number of Hedge Fund Holders: 74
AbbVie Inc. (NYSE:ABBV) is an American pharmaceutical company that specializes in the research, development, and manufacturing of a wide range of pharmaceutical products. On September 8, the company declared a quarterly dividend of $1.48 per share, which was in line with its previous dividend. It is one of the best dividend kings on our list as the company has raised its dividends consistently for the past 50 years. The stock has a dividend yield of 3.88%, as of September 23.
At 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 collective value of these stakes is over $2.37 billion.
Carillon Tower Advisers mentioned AbbVie Inc. (NYSE:ABBV) in its Q2 2023 investor letter. Here is what the firm has to say:
“AbbVie Inc. (NYSE:ABBV) reported mixed first-quarter results, which included disappointing revenue for two important products that are expected to drive new growth for the firm. We believe the source of weakness is temporary and remain bullish on the long-term future for both products.”
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Follow Abbvie Inc. (NYSE:ABBV)
4. The Procter & Gamble Company (NYSE:PG)
Number of Hedge Fund Holders: 74
An American multinational consumer goods company, The Procter & Gamble Company (NYSE:PG) is next on our list of the best dividend kings. The company offers a quarterly dividend of $0.9407 per share and has a dividend yield of 2.48%, as of September 23. It has raised its dividends consistently for the past 67 years.
Of the 910 hedge funds tracked by Insider Monkey, 74 funds owned stakes in The Procter & Gamble Company (NYSE:PG), down from 75 in the previous quarter. Their collective stake value is over $5.3 billion. With roughly 5 million shares, Fundsmith LLP was the company’s leading stakeholder in Q2.
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3. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 81
Walmart Inc. (NYSE:WMT) is an American retail corporation that operates a wide range of retail formats and offers a diverse selection of products and services. The company currently pays a quarterly dividend of $0.57 per share with a dividend yield of 1.40%, as of September 23. It has raised its dividends consistently for 50 years straight.
As of the close of Q2 2023, 81 hedge funds in Insider Monkey’s database reported having stakes in Walmart Inc. (NYSE:WMT), worth collectively over $5.4 billion. Among these hedge funds, D E Shaw was the company’s leading stakeholder in Q2.
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2. S&P Global Inc. (NYSE:SPGI)
Number of Hedge Fund Holders: 82
S&P Global Inc. (NYSE:SPGI) is a New York-based financial information and analytics company that provides a wide range of services and products to businesses, investors, and financial professionals. The company’s dividend growth streak currently stands at 50 years. The company offers a quarterly dividend of $0.90 per share and has a dividend yield of 0.97%, as of September 23.
As of the close of Q2 2023, 82 hedge funds tracked by Insider Monkey reported having stakes in S&P Global Inc. (NYSE:SPGI), worth nearly $8.3 billion. With over 9.3 million shares, TCI Fund Management was the company’s leading stakeholder in Q2.
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1. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Holders: 88
Johnson & Johnson (NYSE:JNJ) tops our list of the best dividend kings to buy. The American pharmaceutical company has been growing its dividends consistently for the past 61 years and currently pays a quarterly dividend of $1.19 per share. The stock’s dividend yield on September 23 came in at 2.97%.
As of the end of Q2 2023, 88 hedge funds owned stakes in Johnson & Johnson (NYSE:JNJ), up from 86 in the previous quarter, according to Insider Monkey’s database. These stakes are worth over $4.1 billion in total.
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