In this article we will be taking a look at the 5 best Dow dividend stocks to double your income. To read our detailed analysis of the Dow Jones index and its dividend stocks, you can go directly to see the 10 Best Dow Dividend Stocks to Double Your Income.
5. Merck & Co., Inc. (NYSE:MRK)
Number of Hedge Fund Holders: 80
Dividend Yield: 3.6%
Merck & Co., Inc. (NYSE:MRK) is another healthcare company on our list of the best Dow dividend stocks to double your income. The company offers human and animal health pharmaceutical products and has grown its dividend for the past 12 years, making it a safe dividend stock pick.
JPMorgan analyst Chris Schott holds an Overweight rating on shares of Merck & Co., Inc. (NYSE:MRK) as of this January.
Merck & Co., Inc.’s (NYSE:MRK) earnings history shows an EPS of $1.80, beating estimates by $0.3, in the fiscal fourth quarter of 2021. Its revenue was $13.5 billion, also beating estimates by $308.8 million.
In the fourth quarter of 2021, 80 hedge funds were long Merck & Co., Inc. (NYSE:MRK). Their total stake value was $3.8 billion.
4. 3M Company (NYSE:MMM)
Number of Hedge Fund Holders: 41
Dividend Yield: 3.9%
3M Company (NYSE:MMM) is a diversified technology company operating through its Safety and Industrial; Transportation and Electronics; Health Care; and Consumer segments. The company offers a diverse range of products, from industrial abrasives to filtration and purification systems.
Wells Fargo holds an Equal Weight rating on shares of 3M Company (NYSE:MMM) as of this February.
The company’s EPS in the fiscal fourth quarter of 2021 was $2.31, beating estimates by $0.3. The revenue was $8.6 billion, also beating estimates by $31.6 million.
Our fourth quarter 2021 hedge fund data shows 41 hedge funds out of 924 hedge funds holding stakes in 3M Company (NYSE:MMM). Their total stake value was $1.6 billion. In the previous quarter, 46 hedge funds held stakes in the company worth $1.6 billion then as well.
3. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 53
Dividend Yield: 4.1%
Chevron Corporation (NYSE:CVX) is an energy company operating through its Upstream and Downstream segments. The company explores, develops, produces, and transports crude oil and natural gas, alongside providing other related services.
Cowen’s Jason Gabelman holds an Outperform rating on Chevron Corporation (NYSE:CVX) shares as of this February.
The company had an EPS of $2.6 in the fiscal fourth quarter of 2021, and revenue of $48.1 billion. The revenue beat estimates by $2.8 billion.
Out of 924 hedge funds in the fourth quarter of 2021, 53 hedge funds were long Chevron Corporation (NYSE:CVX), with a total stake value of $6.5 billion.
2. Verizon Communications (NYSE:VZ)
Number of Hedge Fund Holders: 63
Dividend Yield: 4.7%
Verizon Communications (NYSE:VZ) is a communication services company offering a range of integrated telecommunication services to consumers worldwide.
Deutsche Bank analyst Bryan Kraft reiterated a Hold rating on Verizon Communications (NYSE:VZ) shares just this January.
The company’s EPS for the fiscal fourth quarter of 2021 was $1.32, beating estimates by $0.03. Its revenue was $34.1 billion, beating the previous quarter’s revenue of $32.9 billion.
Our hedge fund data shows 63 hedge funds long Verizon Communications (NYSE:VZ) in the fourth quarter of 2021. Their total stake value was $10.9 billion.
Weitz Investment Management, an investment management firm, mentioned Verizon Communications (NYSE:VZ) in its fourth-quarter 2021 investor letter. Here’s what they said:
“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”
1. International Business Machines Corporation (NYSE:IBM)
Number of Hedge Fund Holders: 44
Dividend Yield: 5.3%
International Business Machines Corporation (NYSE:IBM) is an information technology company operating in the IT consulting and other services industry. The company offers integrated solutions and services through its Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing segments. It has raised its dividend for the past 22 years.
Evercore ISI holds an In Line rating on International Business Machines Corporation (NYSE:IBM) as of this January.
The earnings history for International Business Machines Corporation (NYSE:IBM) shows an EPS of $3.4, beating estimates by $0.06, in the fiscal fourth quarter of 2021. Its revenue was $16.7 billion, also beating estimates by $730.5 million.
International Business Machines Corporation (NYSE:IBM) had 44 hedge funds holding stakes in it in the fourth quarter of 2021, compared to 41 hedge funds in the previous quarter.
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