Dividend Stocks the Smart Money Is Buying

With the help of AlphaClone, an online hedge fund research and investment management firm that provides data on the portfolios of hundreds of different hedge funds and institutional investors. Over the past several months, I've been tapping AlphaClone to try to come up with better stock ideas from Wall Street's finest. Today, I'm going to show you the five favorite dividend stocks that top professional investors own in their portfolios.

Using AlphaClone, I searched through the customized database of 324 institutions to figure out which stocks most often came up among their top holdings. That resulted in a list of 20 stocks. I narrowed down the list to include only those dividend stocks with current yields of 3% or more. Here's the final cut, ranked by dividend yield: 1.) Pfizer (PFE), 2.) ConocoPhillips (COP), 3.) Johnson & Johnson (JNJ), 4.) General Electric (GE), 5.) Procter & Gamble (PG) and 6.) Chevron (CVX).

Source: Motley Fool

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