5 Best Income Stocks To Invest In

In this article, we discuss 5 best income stocks to invest in. If you want to read our detailed analysis of income stocks and the performance of dividend stocks in the past, go directly to read 15 Best Income Stocks To Invest In.

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

Number of Hedge Fund Holders: 85

Merck & Co., Inc. (NYSE:MRK) is an American pharmaceutical company known for its research, development, manufacturing, and marketing of a wide range of healthcare products. The company has been raising its dividends for 11 consecutive years and it currently pays a quarterly dividend of $0.73 per share. The stock has a dividend yield of 2.87%, as of November 23.

The number of hedge funds tracked by Insider Monkey owning stakes in Merck & Co., Inc. (NYSE:MRK) jumped to 85 in Q3 2023, from 78 a quarter earlier. The consolidated value of these stakes is over $5 billion.

4. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 87

Broadcom Inc. (NASDAQ:AVGO) is a global technology company that designs, develops, and supplies a broad range of semiconductor and infrastructure software solutions. The company currently pays a quarterly dividend of $4.60 per share and has a dividend yield of 1.89%, as of November 23. It is one of the best dividend stocks on our list as the company has raised its dividend for 12 years in a row.

Broadcom Inc. (NASDAQ:AVGO) was a part of 87 hedge fund portfolios at the end of Q3 2023, up significantly from 72 in the previous quarter, according to Insider Monkey’s database. The collective value of stakes owned by these hedge funds is nearly $6.2 billion.

3. Union Pacific Corporation (NYSE:UNP)

Number of Hedge Fund Holders: 90

Union Pacific Corporation (NYSE:UNP) is an American leading transportation company that operates one of the largest railroad networks in the country. The company offers a quarterly dividend of $1.30 per share and maintains a 16-year streak of consistent dividend growth. With a dividend yield of 2.33%, as of November 23, UNP is one of the best dividend stocks on our list for income investors.

At the end of September 2023, 90 hedge funds in Insider Monkey’s database reported having stakes in Union Pacific Corporation (NYSE:UNP), up from 87 in the previous quarter. The total value of these stakes is over $5.4 billion. With over 8.2 million shares, Soroban Capital Partners was the company’s leading stakeholder in Q3.

2. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 102

Eli Lilly and Company (NYSE:LLY) is a pharmaceutical company that focuses on discovering, developing, manufacturing, and marketing a wide range of pharmaceutical products and treatments across various therapeutic areas. On November 1, the company announced a quarterly dividend of $1.13 per share, which was in line with its previous dividend. The company has a 138-run of paying regular dividends to shareholders and also maintains a 9-year streak of consistent dividend growth. The stock’s dividend yield on November 23 came in at 0.76%.

The number of hedge funds in Insider Monkey’s database owning stakes in Eli Lilly and Company (NYSE:LLY) jumped to 102 in Q3 2023, from 87 in the preceding quarter. The total value of these stakes is over $9 billion.

1. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 104

An American multinational healthcare company, UnitedHealth Group Incorporated (NYSE:UNH) tops our list of the best dividend stocks for income. The company has raised its dividends for 13 years straight and it offers a quarterly dividend of $1.88 per share. As of November 23, the stock has a dividend yield of 1.38%.

As of the close of Q3 2023, 104 hedge funds tracked by Insider Monkey reported having stakes in UnitedHealth Group Incorporated (NYSE:UNH), compared with 111 in the previous quarter. The collective value of these stakes is roughly $11 billion.

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