Top 10 Best Dividend Stocks on Robinhood

2. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 86

Merck & Co., Inc. (NYSE:MRK) is a New Jersey-based pharmaceutical company that offers innovative health solutions to its consumers. The company has established itself as a leader in specialty pharmaceuticals and oncology, with its leading cancer medication, Keytruda, revolutionizing treatment methods and driving substantial revenue growth. Its strong market presence generates significant cash flow, which is then used to provide returns to shareholders. In the most recent quarter, Keytruda’s sales rose 17% compared to the previous year, reaching $7.4 billion.

Merck & Co., Inc. (NYSE:MRK) is making significant strides in diversifying its drug pipeline. Originally, it projected an additional $35 billion in revenue from its new drug portfolio at the start of 2024, but that estimate has now increased to $50 billion. This growth is mainly driven by a notable expansion in its clinical trials, with 26 phase III trials currently ongoing, up from just nine in 2021. Some of these trials have the potential to produce blockbuster drugs, especially in HIV treatments. In addition, the company has partnered with Gilead Sciences on a combination therapy that could revolutionize HIV care.

Merck & Co., Inc. (NYSE:MRK) is one of the best dividend stocks on Robinhood as the company maintains a 14-year streak of consistent dividend growth. The company’s quarterly dividend currently comes in at $0.81 per share and has a dividend yield of 3.28%, as of January 30.

Merck & Co., Inc. (NYSE:MRK) was included in 86 hedge fund portfolios at the end of Q3 2024, according to Insider Monkey’s database. The stakes owned by these funds are worth over $7.1 billion in total. With over 14.6 million shares, Fisher Asset Management was the company’s leading stakeholder in Q3.