Top 10 Dividend Stocks of 2023

In this article, we discuss top 10 dividend stocks of 2023. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read Top 25 Dividend Stocks of 2023. 

10. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71
Year-to-Date Returns as of October 2: 8.75%

An American energy company, Exxon Mobil Corporation (NYSE:XOM) is next on our list of the best dividend stocks of 2023. The company pays a quarterly dividend of $0.91 per share and has a dividend yield of 3.14%, as recorded on October 2. It has been growing its dividends consistently for the past 40 years.

At the end of Q2 2023, 71 hedge funds in Insider Monkey’s database reported having stakes in Exxon Mobil Corporation (NYSE:XOM), down from 73 in the previous quarter. The consolidated value of these stakes is over $3 billion.

9. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 72
Year-to-Date Returns as of October 2: 47.22%

Broadcom Inc. (NASDAQ:AVGO) is an American technology company that specializes in designing and manufacturing semiconductor and infrastructure software solutions. On August 31, the company declared a quarterly dividend of $4.60 per share, consistent with its previous dividend. It has raised its dividends for 12 years in a row, which makes it one of the best dividend stocks on our list. As of October 2, the stock has a dividend yield of 2.26%.

The number of hedge funds tracked by Insider Monkey owning stakes in Broadcom Inc. (NASDAQ:AVGO) stood at 72 in Q2 2023. The collective value of stakes owned by these hedge funds is roughly $4.2 billion.

8. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 73
Year-to-Date Returns as of October 2: 2.79%

QUALCOMM Incorporated (NASDAQ:QCOM) is a leading global tech company that primarily operates in the field of wireless telecommunications and semiconductors. With the company’s 19 years of consecutive dividend growth, it is one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.80 per share and has a dividend yield of 2.90%, as of October 2.

As per Insider Monkey’s database of Q2 2023, 73 hedge funds owned stakes in QUALCOMM Incorporated (NASDAQ:QCOM), up from 69 in the previous quarter. The overall value of these stakes is over $2.3 billion.

7. The Sherwin-Williams Company (NYSE:SHW)

Number of Hedge Fund Holders: 78
Year-to-Date Returns as of October 2: 3.93%

The Sherwin-Williams Company (NYSE:SHW) is a multinational company primarily engaged in the manufacturing, distribution, and sale of paint, coatings, and related products. The company’s dividend growth streak stands at 44 years and it pays a quarterly dividend of $0.605 per share. The stock has a dividend yield of 0.97%, as of October 2.

The number of hedge funds tracked by Insider Monkey owning stakes in The Sherwin-Williams Company (NYSE:SHW) grew to 78 in the second quarter of 2023, from 68 a quarter earlier. The consolidated value of these stakes is over $4.5 billion. With over 2.2 million shares, Viking Global was the company’s leading stakeholder in Q2.

6. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 81
Year-to-Date Returns as of October 2: 10.79%

An American retail corporation, Walmart Inc. (NYSE:WMT) has been growing its dividends for 50 consecutive years. It currently offers a quarterly dividend of $0.57 per share for a dividend yield of 1.43%, as of October 2. It is among the best dividend stocks on our list.

Walmart Inc. (NYSE:WMT) was a part of 81 hedge fund portfolios at the end of Q2 2023, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of more than $5.4 billion.

5. S&P Global Inc. (NYSE:SPGI)

Number of Hedge Fund Holders: 82
Year-to-Date Returns as of October 2: 6.34%

S&P Global Inc. (NYSE:SPGI) is a financial information and analytics company that provides essential insights, data, and intelligence to investors worldwide. At the end of Q2 2023, 82 hedge funds in Insider Monkey’s database owned stakes in the company, worth collectively roughly $8.3 billion.

S&P Global Inc. (NYSE:SPGI), one of the best dividend stocks of 2023, has been raising its dividends consistently for 50 years. The company pays a quarterly dividend of $0.90 per share and has a dividend yield of 1.01%, as of October 2.

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 135
Year-to-Date Returns as of October 2: 37.8%

Apple Inc. (NASDAQ:AAPL) is next on our list of the best dividend stocks of 2023, as the stock has delivered a 37.8% return to shareholders since the start of the year. The multinational tech company has raised its dividends for 11 years in a row and currently pays a quarterly dividend of $0.24 per share. As of October 2, the stock offers a dividend yield of 0.56%.

At the end of Q2 2023, 135 hedge funds tracked by Insider Monkey reported having stakes in Apple Inc. (NASDAQ:AAPL), up from 131 in the previous quarter. Warren Buffett’s Berkshire Hathaway was the company’s leading stakeholder in Q2.

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 139
Year-to-Date Returns as of October 2: 12.76%

Mastercard Incorporated (NYSE:MA) is a global tech company primarily known for its role in the payments industry. The company pays a quarterly dividend of $0.57 per share and its dividend yield on October 2 came in at 0.58%. The company has raised its dividends for 10 consecutive years, which makes it one of the best dividend stocks on our list.

Mastercard Incorporated (NYSE:MA) was included in 139 hedge fund portfolios at the end of Q2 2023, as per Insider Monkey’s database. Among these hedge funds, Akre Capital Management was the company’s largest stakeholder in Q2.

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 171
Year-to-Date Returns as of October 2: 10.33%

A global financial tech company, Visa Inc. (NYSE:V) has been rewarding shareholders with growing dividends for 14 consecutive years. It offers a quarterly dividend of $0.45 per share for a dividend yield of 0.79%, as of October 2.

The number of hedge funds tracked by Insider Monkey owning stakes in Visa Inc. (NYSE:V) stood at 171 in Q2 2023. The collective value of these stakes is roughly $25 billion.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 300
Year-to-Date Returns as of October 2: 30.8%

Microsoft Corporation (NASDAQ:MSFT) is next on our list of the best dividend stocks of 2023. The multinational tech giant’s dividend growth track record stands at 17 years. It offers a quarterly dividend of $0.75 per share, having raised it by 10% in September this year. The stock’s dividend yield on October 2 came in at 0.96%.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 300 funds owned stakes in Microsoft Corporation (NASDAQ:MSFT), worth collectively nearly $70 billion. With roughly 40 million shares, Bill & Melinda Gates Foundation Trust was the company’s leading stakeholder in Q2.

You can also take a look at Analysts on Wall Street Lower Ratings for These 10 Stocks and 12 Best Specialty Chemical Stocks To Buy Now

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