In this article, we discuss 5 best innovative stocks that pay dividends. If you want to read our detailed analysis of innovative stocks and their need in today’s world, go directly to read 10 Best Innovative Stocks that Pay Dividends.
5. Honeywell International Inc. (NASDAQ:HON)
Number of Hedge Fund Holders: 58
Honeywell International Inc. (NASDAQ:HON) is a North Carolina-based multinational conglomerate. The company invented the thermostatic expansion valve (TXV), which is used in refrigeration and air conditioning systems. The TXV regulates the flow of refrigerant and helps maintain proper temperature and pressure, improving the efficiency of cooling systems.
Honeywell International Inc. (NASDAQ:HON) pays a quarterly dividend of $1.03 per share and has a dividend yield of 2.00% as of July 14. The company has raised its dividends consistently for the past 13 years, which makes it one of the best innovative stocks that pay dividends.
Honeywell International Inc. (NASDAQ:HON) was a popular buy among hedge funds in Q1 2023 as 58 elite funds in Insider Monkey’s database owned stakes in the company, up from 44 in the previous quarter. These stakes have a total value of over $2.25 billion.
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4. General Electric Company (NYSE:GE)
Number of Hedge Fund Holders: 59
General Electric Company (NYSE:GE) is an American multinational conglomerate. The company has a long-standing tradition of pushing the boundaries of innovation, starting with Thomas Edison’s breakthrough in creating a practical light bulb. From there, they continued to redefine what was achievable by inventing the first X-ray machines. Their contributions also extended to revolutionizing entertainment with the creation of the first television broadcast.
General Electric Company (NYSE:GE), one of the best innovative stocks, currently pays a quarterly dividend of $0.08 per share and has a dividend yield of 0.29%, as of July 14.
At the end of the March quarter, 59 hedge funds tracked by Insider Monkey owned stakes in General Electric Company (NYSE:GE), consistent with the previous quarter. These stakes are collectively valued at over $7.6 billion.
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3. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 68
Intel Corporation (NASDAQ:INTC) is next on our list of the best innovative stocks. The semiconductor company is renowned for its groundbreaking work in microprocessor development. It created the first commercially successful microprocessor, the Intel 4004, in 1971. This invention revolutionized computing by integrating the functions of multiple transistors onto a single chip, paving the way for smaller, faster, and more powerful computers.
Intel Corporation (NASDAQ:INTC) offers a quarterly dividend of $0.125 per share and has a dividend yield of 1.49%, as recorded on July 14.
According to Insider Monkey’s database of Q1 2023, 68 hedge funds owned stakes in Intel Corporation (NASDAQ:INTC), up from 61 in the previous quarter. These stakes have a consolidated value of roughly $3.7 billion.
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2. Pfizer Inc. (NYSE:PFE)
Number of Hedge Fund Holders: 73
An American biotech and pharmaceutical company, Pfizer Inc. (NYSE:PFE) developed a type of santonin for treating intestinal worms, which quickly gained popularity due to its effectiveness. One of the company’s founders Erhart, utilized his confectionary expertise and incorporated almond-toffee flavoring into the medicine, making it more enjoyable to consume. In addition to this, the company started producing citric acid at a time when popular drinks like Coca-Cola were gaining popularity, and citric acid was a key ingredient in these beverages. Citric acid quickly became Pfizer’s primary product and played a significant role in the company’s growth in the subsequent decades.
Pfizer Inc. (NYSE:PFE) has been raising its dividends consistently for the past 13 years, which makes it one of the best innovative stocks that pay dividends. It currently pays a quarterly dividend of $0.41 per share and has a dividend yield of 4.52%, as of July 14.
At the end of March 2023, 73 hedge funds tracked by Insider Monkey owned stakes in Pfizer Inc. (NYSE:PFE), worth collectively roughly $2.2 billion.
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1. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 131
Apple Inc. (NASDAQ:AAPL) tops our list of the best innovative stocks. The company has been instrumental in developing groundbreaking devices and services that have redefined the consumer electronics market, including iPhone, iPad, iTunes and App Store, and many others.
Apple Inc. (NASDAQ:AAPL) has raised its dividends every year since 2012. It currently offers a per-share dividend of $0.24 every quarter. The stock’s dividend yield on July 14 came in at 0.50%.
Apple Inc. (NASDAQ:AAPL) was in 131 hedge fund portfolios at the end of Q1 2023, as per Insider Monkey’s database. These stakes are collectively worth over $165.2 billion.
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You can also take a look at 10 Best Pizza Stocks To Buy Now and 10 Best Natural Gas Stocks to Buy Now
