Dividend Aristocrats List by Yield: Top 10 Stocks

8. Medtronic plc (NYSE:MDT)

Dividend Yield as of November 14: 3.26%

Medtronic plc (NYSE:MDT) is an American medical device company, headquartered in Ireland. The company was a part of 54 hedge fund portfolios in Q2 2022, the same as in the previous quarter. The stakes owned by these hedge funds have a total value of over $2.48 billion. Some of Wall Street’s biggest names owned stakes in the company in Q2, including Ric Dillon and Ken Fisher.

Medtronic plc (NYSE:MDT) pays a quarterly dividend of $0.68 per share for a dividend yield of 3.26%, as of November 14. The company’s dividend growth streak stands at 45 years.

Barclays highlighted the strong fundamentals of Medtronic plc (NYSE:MDT) and initiated its coverage on the stock in October with an Equal Weight rating and a $90 price target.

Artisan Partners mentioned Medtronic plc (NYSE:MDT) in its Q2 2022 investor letter. Here is what the firm has to say:

“While Medtronic plc (NYSE:MDT)’s procedure volumes recovered to pre-COVID levels, foreign exchange headwinds overshadowed underlying business value growth, and supply chain issues, including those related to China’s lockdowns, impacted the surgical innovations business. The downdraft in the market during the quarter led to a pile-on. We are being patient with our investment in Medtronic because the company continues to be a strong free cash flow generator and is attractively priced, with a FCF yield of 5% on trailing one-year numbers and a dividend yield of 3%. Medtronic is under new management that is focused on growing the company’s top line, reinvesting in R&D, returning cash to shareholders and growing operating profits. We like new management’s strategy and believe new product launches, increased surgery visits, sound M&A transactions and a shareholder returns focus, should reinvigorate the business. We added to our positions in these health care names during the quarter.”