Top 20 Dividend Stocks of 2024

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

Number of Hedge Fund Holders: 68

The Procter & Gamble Company (NYSE:PG) is an American multinational consumer goods company specializing in a wide range of related products and services. The stock has surged by over 12% in the past 12 months, marking a strong performance this year. This accomplishment is mainly attributed to the company’s strong operational performance. Despite facing inflationary pressures, it has consistently delivered solid results by effectively implementing significant price increases. In fact, the company achieved organic sales growth in every quarter of fiscal 2023.

In fiscal Q1 2025, The Procter & Gamble Company (NYSE:PG) reported revenue of $21.7 billion, a slight decrease of 1% compared to the same period last year. The company generated $4.3 billion in operating cash flow, with adjusted free cash flow productivity at 82%, meeting expectations. P&G also continued to provide value to shareholders, returning $4.4 billion through dividends and share buybacks.

The Procter & Gamble Company (NYSE:PG) has provided an optimistic outlook for fiscal 2025, projecting sales growth between 2% and 4% and an increase of 10% to 12% in diluted net EPS, compared to $6.02 in fiscal 2024. If the company reaches the midpoint of this forecast, it will set a new record with a diluted EPS of $6.68 for fiscal 2025. It also has a strong track record of returning value to shareholders, having paid dividends for 134 years and maintained 68 consecutive years of dividend growth, positioning it as one of the best dividend stocks of 2024. Its quarterly dividend comes in at $1.0065 per share and has a dividend yield of 2.41%, as of December 30.

The number of hedge funds tracked by Insider Monkey holding stakes in The Procter & Gamble Company (NYSE:PG) grew to 68 in Q3 2024, from 64 in the previous quarter. These stakes have a total value of more than $8.8 billion. Ken Fisher’s Fisher Asset Management was the company’s leading stakeholder in Q3.

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