5 Best High Yield Stocks To Buy

In this article, we discuss 5 best high-yield stocks to buy. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 15 Best High Yield Stocks To Buy. 

5. Gilead Sciences, Inc. (NASDAQ:GILD)

Number of Hedge Fund Holders: 55
Dividend Yield as of December 4: 3.86%

Gilead Sciences, Inc. (NASDAQ:GILD) is an American biopharmaceutical company that focuses on research, development, and commercialization of medicines. On November 8, the company declared a quarterly dividend of $0.75 per share, which was in line with its previous dividend. Its dividend growth streak currently stands at eight years, which makes GILD one of the best dividend stocks on our list. The stock has a dividend yield of 3.86%, as of December 4.

At the end of Q3 2023, 55 hedge funds in Insider Monkey’s database reported having stakes in Gilead Sciences, Inc. (NASDAQ:GILD), compared with 56 in the previous quarter. The consolidated value of these stakes is more than $1.38 billion.

4. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 61
Dividend Yield as of December 4: 6.95%

An American telecommunications company, Verizon Communications Inc. (NYSE:VZ) is next on our list of the best dividend stocks with high yields. The company pays a quarterly dividend of $0.665 per share, having raised it by 1.9% in September this year. Through this increase, the company stretched its dividend growth streak to 17 years, which makes VZ one of the best dividend stocks. As of December 4, the stock has a dividend yield of 6.95%.

The number of hedge funds tracked by Insider Monkey owning stakes in Verizon Communications Inc. (NYSE:VZ) grew to 61 in Q3 2023, from 53 in the previous quarter. The collective value of these stakes is roughly $1.4 billion.

Mairs & Power mentioned Verizon Communications Inc. (NYSE:VZ) in its Q3 2023 investor letter. Here is what the firm has to say:

“Thanks to the excitement around AI, we are finding attractive opportunities in so-called old economy industries and/or value-orientated names. One such opportunity that we added to in the quarter was Verizon Communications Inc. (NYSE:VZ). Verizon is the largest wireless operator in the United States and benefits from large barriers to entry thanks to government regulation and the billions of dollars needed to maintain a cellular network. T-Mobile (TMUS) has historically been a thorn in Verizon’s side but recently has become more disciplined on pricing. In fact, T-Mobile’s most recent unlimited data phone plan is more expensive than both AT&T’s (T) and Verizon’s. We are also excited about Verizon’s fixed wireless access opportunity, in which the internet is delivered to consumers’ homes via cellular network instead of cable. In addition to long-term potential, Verizon offers an attractive 8% dividend yield.”

3. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 62
Dividend Yield as of December 4: 5.53%

Philip Morris International Inc. (NYSE:PM) is a leading tobacco company engaged in the manufacturing and sale of cigarettes and other tobacco products worldwide. The company has been raising its dividends for the past 15 consecutive years and it currently pays a quarterly dividend of $1.30 per share. The stock has a dividend yield of 5.53%, as of December 4.

Philip Morris International Inc. (NYSE:PM) was a part of 62 hedge fund portfolios at the end of Q3 2023, up from 54 in the previous quarter. The overall value of stakes owned by these hedge funds is over $4.7 billion. With over 15 million shares, Fundsmith LLP was the company’s leading stakeholder in Q3.

2. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Hedge Fund Holders: 65
Dividend Yield as of December 4: 4.55%

Bristol-Myers Squibb Company (NYSE:BMY) is an American multinational pharmaceutical company that has raised its dividends for 17 years in a row. The company offers a quarterly dividend of $0.57 per share and has a dividend yield of 4.55%, as of December 4.

As of the end of Q3 2023, 65 hedge funds tracked by Insider Monkey reported having stakes in Bristol-Myers Squibb Company (NYSE:BMY), compared with 66 in the previous quarter. The collective value of these stakes is over $1.8 billion. Among these hedge funds, Two Sigma Advisors was the company’s leading stakeholder in Q3.

1. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 73
Dividend Yield as of December 4: 5.67%

Pfizer Inc. (NYSE:PFE) tops our list of the best dividend stocks with high yields. The multinational pharmaceutical company has been growing its dividends for the past 13 years and it currently pays a quarterly dividend of $0.41 per share. The stock has a dividend yield of 5.67%, as of December 4.

At the end of September 2023, 73 hedge funds in Insider Monkey’s database reported having stakes in Pfizer Inc. (NYSE:PFE), which remained unchanged from the previous quarter. The total value of these stakes is over $2.43 billion.

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