What is an Annuity for Retirement? 5 Dividend Stocks to Buy Instead

In this article, we discuss what is an annuity for retirement and 5 dividend stocks to buy instead. If you want to read our detailed analysis on the subject, go directly to read What is an Annuity for Retirement? 15 Dividend Stocks to Buy Instead. 

5. Analog Devices, Inc. (NASDAQ:ADI)

Number of Hedge Fund Holders: 62

Analog Devices, Inc. (NASDAQ:ADI) is a global semiconductor company that manufactures integrated circuits and systems. In February this year, the company declared a 7% hike in its quarterly dividend to $0.92 per share. This marked the company’s 21st consecutive year of dividend growth, which makes ADI one of the best dividend stocks for retirees. The stock has a collective value of 1.82%, as of April 28.

Insider Monkey’s database of Q4 2023 showed that 62 hedge funds held stakes in Analog Devices, Inc. (NASDAQ:ADI), compared with 64 in the preceding quarter. The consolidated value of these stakes is over $4.44 billion.

4. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 63

Verizon Communications Inc. (NYSE:VZ) is an American multinational tech company that offers a wide range of wireless services and products to its consumers. The company has raised its payouts for 17 years in a row and offers a quarterly dividend of $0.665 per share. As of April 28, the stock has a dividend yield of 6.70%.

Verizon Communications Inc. (NYSE:VZ) was a part of 63 hedge fund portfolios at the end of Q4 2023, up from 61 in the previous quarter, as per Insider Monkey’s database. Among these hedge funds, Cliff Asness’ AQR Capital Management was the company’s largest stakeholder in Q4.

3. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 65

NextEra Energy, Inc. (NYSE:NEE) is next on our list of dividend stocks to buy instead of wondering what is an annuity for retirement. The company currently offers a quarterly dividend of $0.515 per share, having raised it by 10% in February this year. This marked the company’s 28th consecutive year of dividend growth. The stock has a dividend yield of 3.12%, as of April 28.

The number of hedge funds tracked by Insider Monkey holding stakes in NextEra Energy, Inc. (NYSE:NEE) grew to 65 in Q4 2023, from 58 in the previous quarter. These stakes are collectively valued at nearly $1 billion.

2. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 69

NIKE, Inc. (NYSE:NKE) is a multinational footwear and apparel company that offers products for men, women, and children. The company holds a 22-year track record of consistent dividend growth and offers a quarterly dividend of $0.37 per share. The stock’s dividend yield on April 28 came in at 1.58%.

As of the end of the December quarter of 2023, 69 hedge funds tracked by Insider Monkey held stakes in NIKE, Inc. (NYSE:NKE), which remained the same as in the previous quarter. These stakes are collectively valued at over $3.5 billion.

1. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 71

Chevron Corporation (NYSE:CVX) tops our list of the best dividend stocks to consider for retirement. The American energy company currently pays a quarterly dividend of $1.63 per share and has a dividend yield of 3.93%, as of April 28. The company has raised its payouts for 37 consecutive years.

Chevron Corporation (NYSE:CVX) was included in 71 hedge fund portfolios at the end of Q4 2023, compared with 72 in the previous quarter, as per Insider Monkey’s database. These stakes have a total value of over $21.6 billion.

You can also take a look at Goldman Sachs’ Top 15 Stock Picks for 2024 and 12 Most Profitable Dividend Stocks To Invest In