6 Dividend Darlings that are near 52-Week Highs

DENVER, Colo., Sept 14, 2023 (www.247marketnews.com)- The following five dividend paying companies hit their 52-week highs in the past month. This list is by no means comprehensive.

After hitting a new 52-week high of $165.8499, Walmart Inc. (NYSE:WMT) is at $165.00, in light premarket trading, after hitting a new 52-week high of $165.8499 and closing, yesterday, at $164.56, up $0.04 (+0.02%), on 2,931,526 shares traded, after announcing, last week, that it will increase its dividend to $0.57. with its current dividend yield of 1.39%, Walmart remains a well-balanced growth and income stock. Its most recently reported short volume is 14,170,000 shares, which is a +2.76% increase compared to the previous month and represents 2.7 days to cover.

Procter & Gamble Co. (NYSE:PG) hit its 52-week high last month, of $158.38, but remains within striking distance, closing yesterday at $153.09, up $1.06. Procter & Gamble has rewarded dividend payments for 67 consecutive years, with the current yield at 2.46%. Additionally, it beat its most recent quarterly earnings and revenue estimates, coming in at $1.37 and $20.55 billion.

Another consistent dividend payer that’s near its 52-week high is Brown & Brown Inc. (NYSE:BRO), which has made dividend payments over the past 29 years. The insurance brokerage firm, which has been in businesses since 1939, closed yesterday at $73.14, down $0.41 (-0.56%), on 940,220 shares traded, but it still within reach of the $74.57 high that it hit two weeks ago.

Roper Technologies Inc. (NASDAQ:ROP) closed at $495.48, up $1.79 (+0.36%), on trading volume of 373,379 shares. It hit a 52-week high of $504.73 two weeks ago. Roper has a long-term track record of compounding cash flow and its current yield is 0.55%. Roper designs and develops vertical software and technology enabled products for various niche markets, and its website is www.ropertech.com.

I’m bending the rules a little to slip the last two in, but each has a potential macro trend has could give them a little extra tailwind.

With oil hitting multiyear highs, one would think that most oil companies will break their 52-week highs nearly every day, but Exxon Mobil Corp. (NYSE:XOM) closed April at its high of $119.92. It’s at $117.65, in this morning’s premarket, after closing yesterday at $116.44, down $1.05 (-0.89%), on trading volume of 13,472,800 shares. its current yield sits at 3.13%, has paid dividends for the past 40 years, and avoided reducing its dividend during the 2020 oil price drop.

Although hurricane Lee is tracking for Nova Scotia, it could head west sooner and this hurricane season is potentially shaping up to be more active than most, which could boost Lowe’s Cos. (NYSE:LOW) past its 52-week high, $237.205, set in July. Home improvement retail giant closed yesterday at $228.82, down $1.62 (-0.70%), on trading volume of 2,769,395 shares. Lowe’s has made dividend payments for the past 49 years, raising its dividend almost every year since going public in 1961, and its current dividend yield is 1.92%

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