Here are three dividend-paying stocks, highlighted by Wall Street's top pros as tracked by TipRanks, a platform that ranks analysts based on their past performance.
We start this week with big-box retailer Walmart (WMT), which has raised its dividend for 51 consecutive years. Last month, the company reported better-than-expected third-quarter results and raised its full-year outlook. The stock has a dividend yield of 0.9%.
Recently, Tigress Financial analyst Ivan Feinseth reiterated a buy rating on WMT stock and increased the price target to $115 from $86. The analyst highlighted that the company continues to win market share in the U.S., with both groceries as well as general merchandise categories, especially among upper-income families.
Feinseth also noted that Walmart is capitalizing on generative artificial intelligence and machine learning to improve the customer shopping experience, both in-store and online. In this regard, the analyst mentioned the company's generative AI-powered shopping assistant -- currently in its beta test phase -- that will help customers select products based on their unique needs.
The analyst pointed out that Walmart is also leveraging technology and automation to improve its operating efficiency, as well as build its supply chain and fulfillment capabilities to reduce costs and drive higher profitability.
Feinseth also mentioned Walmart's other strengths, such as continued growth in e-commerce, solid brand equity, increase in Walmart+ memberships, and advertising growth. The analyst sees further upside potential in the stock and added that "WMT also enhances shareholder returns through ongoing dividend increases and share repurchases."
Feinseth ranks No. 190 among more than 9,200 analysts tracked by TipRanks. His ratings have been profitable 62% of the time, delivering an average return of 14.4%. See Walmart Stock Buybacks on TipRanks.