Retirement Stock Portfolio: 5 Safe Dividend Stocks To Consider

In this article, we discuss 5 safe dividend stocks to consider for a retirement stock portfolio. If you want to read our detailed analysis of the retirement situation in the US and the performance of dividend stocks over the years, go directly to read Retirement Stock Portfolio: 12 Safe Dividend Stocks To Consider.

5. The Coca-Cola Company (NYSE:KO)

Number of Hedge Fund Holders: 57

The Coca-Cola Company (NYSE:KO) is another best dividend stock for a retirement stock portfolio considering the company’s 61-year-long dividend growth streak. The multinational beverage company currently offers a quarterly dividend of $0.46 per share and has a dividend yield of 3.14%, as of November 27.

With 400 million shares, Warren Buffett’s Berkshire Hathaway was the largest stakeholder of The Coca-Cola Company (NYSE:KO) at the end of Q3 2023. Overall, the company was a part of 57 hedge fund portfolios at the end of the third quarter of 2023, according to Insider Monkey’s database. The collective value of stakes owned by these funds is over $25 billion.

4. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 58

Target Corporation (NYSE:TGT) is an American retail company operating a chain of general merchandise stores across the country. The company offers a quarterly dividend of $1.10 per share and has a dividend yield of 3.35%, as of November 27. In the third quarter of 2023, the company returned $507 million to shareholders through dividends. With 52 consecutive years of dividend growth, TGT can be added to the retirement stock portfolio.

The number of hedge funds tracked by Insider Monkey owning stakes in Target Corporation (NYSE:TGT) grew to 58 in Q3 2023, from 45 in the previous quarter. The consolidated value of these stakes is over $1.3 billion.

3. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 61

Verizon Communications Inc. (NYSE:VZ) is a telecommunications conglomerate that provides a wide range of communication services and products in the US and globally. The company offers a quarterly dividend of $0.665 per share for a dividend yield of 7.11%, as of November 27. The company’s dividend growth stands at 17 years.

Verizon Communications Inc. (NYSE:VZ) was a part of 61 hedge fund portfolios at the end of Q3 2023, up from 53 in the preceding quarter, according to Insider Monkey’s database. The stakes owned by these hedge funds have a consolidated value of roughly $1.4 billion.

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

An American multinational energy company, Exxon Mobil Corporation (NYSE:XOM) holds a 41-year track record of consistent dividend growth. The company has remained committed to its shareholder obligation, returning over $3.7 billion to investors through dividends in the third quarter of 2023. It currently pays a quarterly dividend of $0.95 per share and has a dividend yield of 3.63%.

At the end of September 2023, 79 hedge funds in Insider Monkey’s database owned stakes in Exxon Mobil Corporation (NYSE:XOM), up from 71 in the previous quarter. The collective value of these stakes is over $4.48 billion. With more than 13 million shares, First Eagle Investment Management was the company’s leading stakeholder in Q3.

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 84

Johnson & Johnson (NYSE:JNJ) tops our list of the best dividend stocks for a retirement stock portfolio. The American multinational healthcare company has raised its dividend payouts for 61 consecutive years and it currently offers a quarterly dividend of $1.19 per share. As of November 27, the stock has a dividend yield of 3.12%.

At the end of the third quarter of 2023, 84 hedge funds tracked by Insider Monkey reported having stakes in Johnson & Johnson (NYSE:JNJ), worth collectively over $4.1 billion.

You can also take a look at 11 Most Undervalued Utility Stocks to Buy According to Hedge Funds and 11 Best Halal Dividend Stocks To Buy