5 Best Dividend Stocks on Robinhood

In this article, we discuss 5 best dividend stocks on Robinhood. If you want to read our detailed analysis of retail investing and the past performance of dividend stocks, go directly to read 11 Best Dividend Stocks on Robinhood. 

5. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 56

AT&T Inc. (NYSE:T) is an American multinational telecommunications and media conglomerate with a diverse range of business activities. The company declared a quarterly dividend of $0.2775 per share on September 29, which was consistent with its previous dividend. It is one of the best dividend stocks on our list as the company has been making regular dividend payments to shareholders since 1995. The stock has a dividend yield of 7.01%, as of November 7.

At the end of the second quarter of 2023, 56 hedge funds tracked by Insider Monkey owned stakes in AT&T Inc. (NYSE:T), down from 58 in the previous quarter. These stakes have a collective value of over $1.4 billion. With over 14 million shares, D E Shaw was the company’s leading stakeholder in Q2.

4. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 59

Starbucks Corporation (NASDAQ:SBUX) is a globally recognized coffeehouse chain that specializes in the sale of coffee, espresso-based drinks, tea, and a variety of food items. The company offers a quarterly dividend of $0.57 per share, having raised it by 7.5% in September this year. This was the company’s 13th consecutive year of dividend growth, which makes SBUX one of the best dividend stocks on our list. As of November 7, the stock has a dividend yield of 2.20%.

At the end of June 2023, 59 hedge funds in Insider Monkey’s database reported having stakes in Starbucks Corporation (NASDAQ:SBUX), worth collectively $1.44 billion.

3. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 67

Costco Wholesale Corporation (NASDAQ:COST) is a well-known American retail company that operates a chain of membership-based warehouse clubs. The company holds a 19-year track record of dividend growth and currently pays a quarterly dividend of $1.02 per share. The stock’s dividend yield on November 7 came in at 0.71%.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 67 funds held stakes in Costco Wholesale Corporation (NASDAQ:COST), up from 63 a quarter earlier. The overall value of these stakes is over $2.24 billion.

Madison Investments mentioned Costco Wholesale Corporation (NASDAQ:COST) in its Q3 2023 investor letter. Here is what the firm has to say:

“Costco Wholesale Corporation (NASDAQ:COST) moved higher during the quarter with solid sales and traffic trends and waning inflation. As the consumer faces a tougher economic backdrop, we see Costco continuing to gain share with its strong value proposition.”

2. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 78

Merck & Co., Inc. (NYSE:MRK) is a global pharmaceutical and healthcare company that is engaged in various aspects of the healthcare and life sciences industries. The company’s dividend growth streak currently stands at 11 years and it pays a quarterly dividend of $0.73 per share. The stock has a dividend yield of 2.81%, as of November 7.

At the end of Q2 2023, 78 hedge funds in Insider Monkey’s database owned stakes in Merck & Co., Inc. (NYSE:MRK), up from 75 in the previous quarter. These stakes are collectively worth over $2.65 billion.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 300

Microsoft Corporation (NASDAQ:MSFT) tops our list of the best dividend stocks popular on Robinhood. In September this year, the multinational tech giant raised its dividend for the 17th consecutive year. It offers a quarterly dividend of $0.75 per share and has a dividend yield of 0.83%, as of November 7.

Microsoft Corporation (NASDAQ:MSFT) was the most popular stock among hedge funds with 300 funds owning stakes in the company, according to Insider Monkey’s database. These stakes have a collective value of nearly $70 billion.

You can also take a look at 12 Stocks that Could Skyrocket According to Investment Newsletters and 12 Best Large Cap Stocks To Buy Now

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