Dividend Stock Portfolio: 5 Stocks To Buy According to Reddit

In this article, we discuss 5 dividend stocks to buy according to Reddit. If you want to read our detailed analysis of dividend stocks and the role of retail investors in today’s stock market, go directly to read Dividend Stock Portfolio: 5 Stocks To Buy According to Reddit. 

5. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 74

An American multinational consumer goods company, The Procter & Gamble Company (NYSE:PG) is one of the most reliable stocks to be added to dividend stock portfolios. The company has raised its dividends for 67 years and has a yield of 2.46%, as of September 20. According to retail investors on Reddit, the company has strong fundamentals, balance sheet, and cash flow, which make it appealing to dividend investors.

At the end of Q2 2023, 74 hedge funds in Insider Monkey’s database reported having stakes in The Procter & Gamble Company (NYSE:PG), compared with 75 in the previous quarter. The total value of these stakes is over $5.34 billion.

4. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 81

Walmart Inc. (NYSE:WMT) is one of the world’s largest retail companies. The company operates a vast network of retail stores, both physical and online, and offers a wide range of products and services. The stock is popular among Redditors because of its wide range of businesses which generate solid revenues for the company. It has been raising its dividends consistently for 50 years. The company currently offers a quarterly dividend of $0.57 per share and has a dividend yield of 1.40%, as of September 20.

At the end of June 2023, 81 hedge funds in Insider Monkey’s database reported having stakes in Walmart Inc. (NYSE:WMT), worth collectively over $5.4 billion.

3. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 87

Eli Lilly and Company (NYSE:LLY) is an American multinational pharmaceutical company. The company remained popular among the Reddit community because of its 138-year-long run of paying dividends to shareholders. The company offers a quarterly dividend of $1.13 per share and has a dividend yield of 0.83%, as of September 20.

The number of hedge funds tracked by Insider Monkey reported having stakes in Eli Lilly and Company (NYSE:LLY) grew to 87 in Q2 2023, from 72 in the previous quarter. These stakes have a total value of over $5.07 billion.

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Johnson & Johnson (NYSE:JNJ) is a popular stock among Redditors because of the company’s long streak of dividend growth. The company has raised its dividends for 61 straight years and currently pays a quarterly dividend of $1.19 per share. The stock’s dividend yield on September 20 came in at 2.94%. The community of retail investors also appreciated the company’s MedTech business.

The number of hedge funds tracked by Insider Monkey having stakes in Johnson & Johnson (NYSE:JNJ) grew to 88 in Q2 2023, from 86 in the previous quarter. The collective value of these stakes is over $4.1 billion.

1. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 90

Bank of America Corporation (NYSE:BAC) tops our list of stocks reliable for dividend stock portfolios. The American banking company pays a quarterly dividend of $0.24 per share and has a dividend yield of 3.39%, as of September 20. The bank also stood well during the regional bank crisis, showing growth in its banking revenues in the second quarter of 2023, according to Reddit.

Bank of America Corporation (NYSE:BAC) was a part of 90 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey’s database. The consolidated value of these stakes is over $31.7 billion.

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