5 Best Dividend Stocks for Passive Income

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1. Healthcare Services Group, Inc. (NASDAQ:HCSG)

Dividend Yield as of December 1: 6.16%

Healthcare Services Group, Inc. (NASDAQ:HCSG) is an American company that provides housekeeping, laundry, linen, and related services. On October 19, the company declared a 0.6% hike in its quarterly dividend to $0.215 per share. The company has been raising its dividends consistently since 2003, which makes it one of the best dividend stocks on our list. As of December 1, the stock has a dividend yield of 6.16%.

In October, RBC Capital maintained a Sector Perform rating on Healthcare Services Group, Inc. (NASDAQ:HCSG) with a $14 price target, highlighting the company’s growth and skilled nursing facilities.

At the end of Q3 2022, 19 hedge funds tracked by Insider Monkey owned stakes in Healthcare Services Group, Inc. (NASDAQ:HCSG), up from 15 in the previous quarter. The collective value of these stakes is over $77.6 million.

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