10 Best Long-Term Dividend Stocks to Invest In According to Billionaires
The article cites Merrill Lynch’s Chief Investment Office strategist Kirsten Cabacungan, who says investors should evaluate total return from both capital gains and dividends. It argues consistent dividend growers may be more stable and provide income and potential downside protection. It then lists dividend stocks held by billionaires, including Aflac (Piper Sandler PT raised to $130) and Devon Energy (Mizuho PT to $68; Barclays to $62).
Near-term sentiment tailwind from analyst target increase; supports a dividend/insurer quality narrative rather than a fundamental change.
Piper Sandler raised its Aflac price target to $130 from $125 and kept an Overweight rating after first-quarter results.
Mild positive bias; likely limited follow-through unless additional company-specific catalysts emerge.
Background
The piece is a long-term dividend-stock list framed around billionaire holdings and a Merrill Lynch/BofA Private Bank view that dividend growth can reduce volatility and support total returns.
Why it matters
It provides broker target/rating updates for two featured names (AFL, DVN) and otherwise functions as an educational/curated list rather than a single catalyst-driven news event.
Market relevance
Actionable content is limited to two analyst revisions; the rest is a dividend-investing framework and list methodology.
Market effects
Reinforces “quality dividend” framing for insurers (AFL) and commodity-driven re-rating for E&Ps (DVN).
Limited; both are US-listed and driven by global commodity/insurance fundamentals rather than regional policy.
DVN’s thesis is linked to global oil/refining conditions affected by geopolitical risk (Iran crisis).
Alternative perspectives
Analyst target increases may already be priced; dividend-stock outperformance can lag if rates rise or if commodity assumptions reverse.
For DVN, the key swing factor is whether refining cracks and production response assumptions persist; for AFL, underwriting strength and dividend durability matter more than target math.
Key entities
- institutionMerrill Lynch / Bank of America Private Bank
Investment strategist Kirsten Cabacungan argues dividend growth supports stability and downside protection.
- analyst_firmPiper Sandler
Raised Aflac’s price target to $130 from $125 and maintained Overweight.
- analyst_firmMizuho
Raised Devon Energy’s price recommendation to $68 from $62, citing updated oil/refining outlook.
- analyst_firmBarclays
Raised Devon Energy’s price goal to $62 from $54 and kept Overweight.
