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3 High-Yield Stocks for Dividend Investors

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- By Alberto Abaterusso

The following three stocks may be of interest to dividend investors, as they are offering much higher dividend yields than the S&P 500 Index. The benchmark index's dividend yields 1.38% as of Friday, April 30.

Wall Street sell-side analysts have also issued positive ratings for these stocks, which indicates their shares are predicted to trade higher over the coming months.

Based on Friday's closing price of $85.24 per share, Novartis offers a trailing 12-month and forward dividend yield of 3.75%. The company last paid an annual dividend of $3.199 per common share on March 15.

Novartis has paid dividends for over 20 years.

3 High-Yield Stocks for Dividend Investors
3 High-Yield Stocks for Dividend Investors

On Wall Street, as of April, the stock has a median recommendation rating of overweight with an average target price of $104.39 per share.

The share price has grown 1.48% over the past year, which determined a market capitalization of $192.57 billion and a 52-week range of $77.04 to $98.52.

3 High-Yield Stocks for Dividend Investors
3 High-Yield Stocks for Dividend Investors

The stock is neither oversold nor overbought, as indicated by a 14-day relative strength index of 38.

Chevron Corp

The second company that meets the criteria is Chevron Corp (NYSE:CVX), a San Ramon, California-based integrated oil and gas company.

Based on Friday's closing price of $103.07 per share, Chevron offers a trailing 12-month and forward dividend yield of 5.01%. The last quarterly payment, $1.29 per common share, was made on March 10, while the next quarterly payment, $1.34 per common share, will be issued on June 10.

The company has paid dividends for more than three decades.

3 High-Yield Stocks for Dividend Investors
3 High-Yield Stocks for Dividend Investors

On Wall Street, as of April, the stock has a median recommendation rating of overweight and an average target price of $121.45 per share.

The share price has climbed by 12.72% over the past year for a market capitalization of $198.73 billion and a 52-week range of $65.16 to $112.70.

3 High-Yield Stocks for Dividend Investors
3 High-Yield Stocks for Dividend Investors

The stock is neither oversold nor overbought, as indicated by a 14-day relative strength index of 49.

AbbVie Inc

The third company is AbbVie Inc (NYSE:ABBV), a North Chicago, Illinois-based drug major focusing on treatments for rheumatoid arthritis and psoriasis, as well as the development of therapies for specific forms of cancer.

Based on Friday's closing price of $111.50 per share, AbbVie Inc offers a trailing 12-month dividend yield of 4.45% and a forward dividend yield of 4.66%. The company is currently distributing a quarterly dividend of $1.30 per common share. The last payment was made to shareholders on Feb. 16, while the next one is scheduled for May 14.

AbbVie has paid dividends for about eight years.

3 High-Yield Stocks for Dividend Investors
3 High-Yield Stocks for Dividend Investors

On Wall Street, as of April, the stock has a median recommendation rating of overweight and an average target price of $122.75 per share.

The share price has risen by 36.21% over the past year, which has determined a market capitalization of $196.78 billion and a 52-week range of $79.11 to $113.41.

3 High-Yield Stocks for Dividend Investors
3 High-Yield Stocks for Dividend Investors

The stock is neither oversold nor overbought, as indicated by a 14-day relative strength index of 61.

Disclosure: I have no positions in any securities mentioned.

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This article first appeared on GuruFocus.