5 Cheap DRIP Stocks To Buy Now

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1. Verizon Communications Inc. (NYSE:VZ)

P/E Ratio as of December 21: 7.50
Share Price as of December 21: $37.2

Verizon Communications Inc. (NYSE:VZ) tops our list of the best DRIP stocks to own. The multinational telecommunications company has raised its dividend payouts for 17 consecutive years and currently pays a quarterly dividend of $0.665 per share. The stock’s dividend yield on December 21 came in at 7.11%.

As per Insider Monkey’s database of Q3 2023, 61 hedge funds owned stakes in Verizon Communications Inc. (NYSE:VZ), growing from 53 in the previous quarter. These stakes are collectively valued at nearly $1.4 billion.

Follow Verizon Communications Inc (NYSE:VZ)

You can also take a look at 26 Best Stocks For Dividends and 12 Best Tech Stocks To Buy On the Dip

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