5 Best Passive Income Stocks To Buy Now

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1. Union Pacific Corporation (NYSE:UNP)

Number of Hedge Fund Holders: 83

An American transport company, Union Pacific Corporation (NYSE:UNP) tops our list of the best dividend stocks for passive income. The company offers a quarterly dividend of $1.30 per share and has a dividend yield of 2.60%, as of April 19. The company has paid regular dividends to shareholders for 123 years and raised its payouts for 16 years straight.

Union Pacific Corporation (NYSE:UNP) was a popular stock among elite funds in Q4 2022, as 83 hedge funds in Insider Monkey’s database owned stakes in the company, up from 74 in the previous quarter. These stakes have a total value of roughly $5.4 billion.

Diamond Hill Capital mentioned Union Pacific Corporation (NYSE:UNP) in its Q4 2022 investor letter. Here is what the firm has to say:

“Other bottom contributors to return included railroad operator Union Pacific Corporation (NYSE:UNP), software and IT services provider Microsoft, and banking and financial services company Truist Financial. Union Pacific and Microsoft, though among our bottom contributors, still contributed positively to performance in Q4 as their share prices rose 7% and 3%, respectively. Truist’s stock ended flat in Q4.”

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