When the stock market is turbulent, investors often turn to dividend-paying stocks as a source of steady income and stability for their portfolios. But with so many options available, it can be challenging to identify the best choices. That’s where Wall Street experts come in, providing valuable insights based on thorough analysis of a company’s earnings potential and dividend history.
At Extreme Investor Network, we understand the importance of making well-informed investment decisions. That’s why we recommend following the recommendations of top pros on TipRanks, a platform that ranks analysts based on their past performance. Here are three attractive dividend stocks that have caught the attention of Wall Street experts:
1. IBM (IBM):
Tech giant IBM recently announced mixed first-quarter results, with earnings surpassing expectations and revenue falling short due to uncertain market conditions. Despite this, IBM remains a strong dividend pick, with dividends of $1.5 billion paid in Q1 2024 and a yield of about 4%. Evercore analyst Amit Daryanani is optimistic about IBM’s growth prospects, citing factors such as generative artificial intelligence and consulting revenue acceleration. Daryanani ranks among the top analysts on TipRanks, with a profitable track record and an average return of 13.2%.
2. Hasbro (HAS):
Toy manufacturer Hasbro reported better-than-expected first-quarter earnings, thanks to its turnaround efforts. With dividends worth $97.2 million paid in Q1 2024 and a dividend yield of 4.7%, HAS is another attractive dividend stock to consider. JPM analyst Christopher Horvers upgraded HAS to a buy rating, citing the company’s cost efficiency efforts and digital gaming prospects. Horvers ranks well on TipRanks, with a successful track record and an average return of 7.2%.
3. Target (TGT):
Big-box retailer Target paid $508 million in dividends to shareholders in the first quarter of 2024, with a dividend yield of 2.8%. Despite slightly missing earnings per share expectations, Baird analyst Peter Benedict remains bullish on TGT stock, noting the company’s strategic focus on value and affordability. Benedict ranks highly on TipRanks, with a profitable track record and an average return of 15.1%.
At Extreme Investor Network, we strive to provide valuable insights and recommendations to help our readers make informed investment decisions. By following the guidance of top Wall Street analysts on platforms like TipRanks, investors can identify promising dividend stocks that offer income and stability in turbulent market conditions. Stay tuned for more expert insights and recommendations from Extreme Investor Network.