5 Best July Dividend Stocks To Buy

In this article, we discuss 5 best July dividend stocks to buy. If you want to read our detailed analysis of dividend capture strategy and performance of dividend stocks, go directly to read 10 Best July Dividend Stocks To Buy. 

5. General Electric Company (NYSE:GE)

Ex-Dividend Date: July 10

General Electric Company (NYSE:GE) is a multinational conglomerate that operates across several sectors, including aviation, power, healthcare, renewable energy, and more. The company currently pays a quarterly dividend of $0.08 per share and has a dividend yield of 0.30%, as of July 3. The stock will be going ex-dividend on July 10.

In the first quarter of 2023, General Electric Company (NYSE:GE) reported revenue of $14.5 billion, which showed a 14.4% growth from the same period last year. The company’s cash generation remained strong with an operating cash flow of $155 million and a free cash flow of $102 million.

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. With over 26 million shares, TCI Fund Management was the company’s leading stakeholder in Q1.

4. Accenture plc (NYSE:ACN)

Ex-Dividend Date: July 12

Accenture plc (NYSE:ACN) is a professional services company, based in Dublin, Ireland. The company specializes in information technology and consulting services. The company currently pays a quarterly dividend of $1.12 per share and has a dividend yield of 1.45%, as of July 3. It is one of the best dividend stocks on our list.

In its fiscal Q3 2023, Accenture plc (NYSE:ACN) generated $3.15 billion in free cash flow, up from $2.87 billion in the prior-year period. During the quarter, it paid $708 million to shareholders in dividends.

At the end of Q1 2023, 60 hedge funds tracked by Insider Monkey owned stakes in Accenture plc (NYSE:ACN), worth over $2.87 billion collectively.

3. AbbVie Inc. (NYSE:ABBV)

Ex-Dividend Date: July 13

AbbVie Inc. (NYSE:ABBV) is next on our list of the best dividend stocks. The American pharmaceutical company has 50 years of consistent dividend growth under its belt. It currently pays a quarterly dividend of $1.48 per share for a dividend yield of 4.38%, as of July 3.

As of the close of Q1 2023, 75 hedge funds in Insider Monkey’s database reported having stakes in AbbVie Inc. (NYSE:ABBV), compared with 73 in the previous quarter. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder in Q1.

Harding Loevner mentioned AbbVie Inc. (NYSE:ABBV) in its Q1 2023 investor letter. Here is what the firm has to say:

“One of our two new additions to the portfolio is AbbVie Inc. (NYSE:ABBV), a US drugmaker best known for Humira, a medicine used to treat a variety of autoimmune diseases. AbbVie is building upon its maturing blockbuster Humira business by expanding its stable of autoimmune-disorder treatments with launches such as Skyrizi and Rinvoq, which have been well received and should support continued growth. Separately, we believe the slowdown in venture capital funding may foster more collaboration between biotechnology companies with promising, early-stage pipelines and large pharmaceutical companies. This may allow AbbVie to supplement its own pipeline at cheaper valuations than biotechs had commanded in recent years.”

2. Williams-Sonoma, Inc. (NYSE:WSM)

Ex-Dividend Date: July 20

Williams-Sonoma, Inc. (NYSE:WSM) is a California-based consumer retail company that specializes in kitchenware and home furnishings. The company currently pays a quarterly dividend of $0.80 per share and has a dividend yield of 2.83%, as of July 3. It has been raising its dividends consistently for the past 14 years, which makes it one of the best dividend stocks on our list. Moreover, over the past five years, the company has returned $3.2 billion to shareholders in dividends and share repurchases.

The number of hedge funds tracked by Insider Monkey owning stakes in Williams-Sonoma, Inc. (NYSE:WSM) grew to 34 in Q1 2023, from 29 in the previous quarter. These stakes have a collective value of over $448.6 million.

1. Pfizer Inc. (NYSE:PFE)

Ex-Dividend Date: July 27

Pfizer Inc. (NYSE:PFE) tops our list of the best dividend stocks. The American multinational biotech company has been raising its dividends consistently for the past 13 years. It currently pays a quarterly dividend of $0.41 per share and has a dividend yield of 4.47%, as of July 3.

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.

You can also take a look at 12 Best Manufacturing Stocks To Buy Now and 10 Dow Stocks Billionaires Are Loading Up On

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