Track market-moving stories before they get noisy

Lmcg Investments LLC decreased its stake in JPMorgan Chase and Co. (NYSE: JPM) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,527 shares of the financial services provider's stock after selling 1,794 shares during the quarter. JPMorgan Chase and Co.

IRON Financial LLC increased its stake in Procter and Gamble Company (The) (NYSE: PG) by 105.7% during the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,686 shares of the company's stock after purchasing an additional 6,519 shares during the quarter. IRON Financial LLC's

Sepio Capital LP lessened its position in shares of Johnson and Johnson (NYSE: JNJ) by 12.4% in the undefined quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,091 shares of the company's stock after selling 2,551 shares during the period. Sepio Capital LP's holdings

NBT Bank N.A. bought a new position in shares of Johnson and Johnson (NYSE: JNJ) during the undefined quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 102,588 shares of the company's stock, valued at approximately $27,159,000. Johnson and Johnson accounts for 1.8% of

One of these household-name S&P 500 stocks has raised its dividend every single year for seven decades, and both pay their checks from cash left over after covering every other business need. Here is what stands between them and an…

If you are at or near retirement, the dividend that matters most is the one that keeps arriving and keeps growing through recessions, lawsuits and bear markets. Chasing the biggest yield often means owning a business that strains to pay it, while durable companies whose free cash flow covers the check with room to spare can let their raises compound for decades. The two S&P 500 members below both qualify, and one of them has raised its payout for 70 consecutive years.

Johnson & Johnson
Through its Innovative Medicine and MedTech divisions, Johnson & Johnson (NYSE:JNJ | JNJ Price Prediction) makes prescription drugs and medical devices. That spread across cancer drugs, immunology, neuroscience, heart devices, surgical tools and contact lenses is the source of its durability: when one product loses patent protection, dozens of others carry the load. The company now has 29 products and platforms generating at least $1 billion in annual sales, and its chief executive said on the latest earnings call that J&J is on track to "exceed $100 billion in annual revenue for the first time in our company’s 140-year history."

Dividend Safety Check for J&J
Yield: At a recent price of $265.78, the $1.34 quarterly dividend ($5.36 annualized) works out to a forward yield of about 2.02%, with a trailing yield of 1.97%. That is modest current income, but it is income that rises every year.

Coverage: Management guides to $21 billion of free cash flow this year. Paying $5.36 a share across all outstanding shares costs roughly $12.9 billion a year, or about 61% of that free cash flow. Measured against the adjusted EPS guidance midpoint of $11.10, the payout ratio is about 48%. GAAP earnings look far worse: third-quarter diluted EPS was $0.09 versus $2.12 a year ago, after roughly $7 billion in charges tied to a proposed talc settlement and two pipeline deals. That explains the trailing P/E of 40 next to a forward P/E of 21. Dividends are paid from cash, and the quarter still produced more than $6 billion of free cash flow.

Balance sheet: J&J ended the third quarter with about $17 billion of cash and marketable securities against roughly $45 billion of debt, for net debt near $28 billion. Full-year net interest expense guidance is only $150 million to $200 million, and the company’s profile notes it is one of only two U.S.-based companies with a AAA credit rating.

Track record: In April the board lifted the quarterly dividend 3.1% from $1.30 to $1.34, marking the 64th consecutive year of increases, well past the 50-year bar for Dividend King status. The payment history backs it up: the quarterly rate stepped from $1.01 in 2020 to $1.06, $1.13, $1.19, $1.24 and $1.30 in the following years before reaching today’s $1.34. The next $1.34 payment goes out December 8 to holders of record on November 24.

Why J&J Can Anchor an Income Portfolio for Decades
The growth engine is accelerating. Oncology sales grew about 17% last quarter, Tremfya rose 68.2% and Rybrevant climbed 64%, more than offsetting biosimilar losses on older drugs. Management says it sees a path to double-digit growth by the end of the decade without assuming any acquisitions. Raising the payout sits inside the company’s stated priorities, with the CFO describing capital allocation "centered on prioritizing investments that support key commercial launches, accelerate future innovation, increase our annual dividend." With a beta of 0.206, the shares have also historically moved far less than the broader market, a useful quality for a retiree who depends on stable income.

What Would Break the J&J Case
Talc litigation is the threat to watch. The proposed $5.5 billion ovarian talc resolution depends on participation from at least 95% of claimants. If that threshold fails and the cases drag on with larger judgments, cash that would otherwise fund future raises gets diverted to litigation, and while a dividend this well covered can absorb a lot, a long, open-ended legal bill is the scenario that would slow the streak.

Procter & Gamble
Procter & Gamble (NYSE:PG) sells the things households replace every week no matter what the economy does: Tide, Pampers, Gillette, Charmin, Dawn, Crest, Pantene, Olay and SK-II, organized into five divisions. Demand is strengthening. In the first quarter of fiscal 2027, organic sales rose 4.0%, all 10 product categories grew, and core EPS of $2.00 beat the $1.89 consensus, the sixth consecutive quarter P&G exceeded expectations. The Thorne acquisition, which closed October 1, adds a health and wellness brand to the portfolio.

Dividend Safety Check for P&G
Yield: At $161.25, the $1.0885 quarterly dividend ($4.354 annualized) yields about 2.70% on a forward basis, with a trailing yield of 2.61%.

Coverage: P&G generated $15.835 billion of free cash flow in fiscal 2026, up 12.74%, on $19.556 billion of operating cash flow. Its plan to pay over $10 billion in dividends this fiscal year equals around 63% of that free cash flow. Against the core EPS guidance midpoint of $7.00, the payout ratio is about 62%. The latest quarter shows the same buffer: $4.401 billion of free cash flow against $2.6 billion of dividends paid.

Balance sheet: Cash and equivalents reached $15.365 billion at quarter end, up 37.54% from a year earlier, with $55.337 billion of shareholders’ equity. The company is confident enough in that position to plan a combined $15 billion return to shareholders this fiscal year. In management’s words: "We expect to pay over $10 billion in dividends and to repurchase approximately $5 billion of common stock."

Track record: P&G highlights its 70th consecutive year of dividend increases and 136th consecutive year of dividend payments since incorporating in 1890. Payments confirm the steady climb, from $0.7907 a quarter in early 2021 through $0.8698, $0.9133, $0.9407, $1.0065 and $1.0568 to today’s $1.0885. The next payment arrives November 16.

Why P&G Can Keep Funding Dividend Raises for Decades
Few businesses are this woven into daily life. P&G’s scale gives it a productivity machine that funds reinvestment and the dividend at the same time: it delivered $2.8 billion of productivity savings last fiscal year. Growth is broadening, with Greater China organic sales up 8% and Europe up 4%. A beta of 0.377 reflects how little the stock tends to swing with the market, and the valuation trades at a forward P/E of 21 after the shares gained 10.14% over the past month.

What Would Break the P&G Case
A extended margin squeeze. This fiscal year’s outlook absorbs about $1.4 billion in after-tax commodity costs, and combined input costs and below-the-line items amount to roughly $1.9 billion, or 79 cents per share. Core gross margin already fell 150bps year over year. Management warned, "We expect these headwinds to increase in the next few quarters." If consumers push back on price increases for years rather than quarters, earnings would stall and the annual raises would likely shrink toward token size.

Two Dividend Kings Built for the Long Haul
Both carry balance sheets that can absorb a bad year. Johnson & Johnson and P&G pay their dividends out of roughly 60% of free cash flow and have raised their payouts for 64 and 70 straight years. Each faces a real threat, litigation for J&J and cost inflation for P&G, and each has the cash to work through it, so for a retiree building an income stream meant to outlast market cycles, these two durable, growing payers offer long records worth studying closely.

Contact [email protected] for any questions or corrections.

Ascent Wealth Partners LLC grew its position in ExxonMobil Corporation (NYSE: XOM) by 490.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,208 shares of the oil and gas company's stock after acquiring an additional 9,309 shares during the quarter. Ascent

Garrett Wealth Advisory Group LLC reduced its stake in ExxonMobil Corporation (NYSE: XOM) by 7.7% during the undefined quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,165 shares of the oil and gas company's stock after selling 3,452 shares during the

Exxon's refining business delivered a historic quarter, but crude prices moved sharply against it heading into the Oct. 30 earnings call. Find out which force came out on top and what it means for the stock's remarkable 13% run.

Exxon Mobil (NYSE:XOM | XOM Price Prediction) reports third-quarter results on Oct. 30. A projected $4.5 billion refining boost runs into lower average crude prices, and this report will show which force carried the quarter.

Refining Muscle Powered a Huge Second Quarter
Last quarter, Exxon earned $14.5 billion and generated $23.6 billion in operating cash flow while temporarily losing roughly 10% of upstream production to Middle East disruptions. Free cash flow exceeded $17 billion, and net debt fell by more than $7 billion.

Refining did the heavy lifting. About 3 million barrels a day of industry capacity sat idle because of the Strait closure, and CEO Darren Woods said on the July call that Exxon expects “a very robust refining market with very high margins.” Gulf Coast reliability exceeded 95%, and diesel output set a second-quarter record.

Shares have gained 13.63% over the past month, closing at $183.21 on Oct. 23.

Wall Street Expects Earnings to More Than Double

Metric
Consensus
Year-Ago
Growth

Q3 2026 EPS
$3.981
$1.88
111.76%

Q3 2026 Revenue
$104.03B
$85.29B
21.96%

FY 2026 EPS
$12.9051
$6.99
84.62%

FY 2026 Revenue
$421.33B
$332.24B
26.82%

The quarterly EPS consensus has rose from $3.2767 90 days ago.

Refining Gains Versus Crude and Derivative Drag
The net math is what matters. Energy Products should collect roughly $4.5 billion in added earnings, but lower average Brent prices could create a $1.3 billion upstream drag. An estimated $2.5 billion paper loss from derivative timing effects adds noise. Those timing effects cost $3.88 billion in the first quarter, so you should focus on underlying earnings.

Upstream volume is the second test. Guyana reached about 900,000 barrels per day and the Permian exceeded 1.8 million oil equivalent barrels per day last quarter. I want an update on the Errea Wittu FPSO, which management targeted for start-up by year-end, and on the Golden Pass LNG ramp.

Capital returns matter too. Exxon plans $20 billion in 2026 buybacks and has extended dividend growth to 43 consecutive years, the kind of run that puts it firmly in the Dividend Kings club we ranked by valuation in a free report. Structural cost savings reached $16.3 billion against a $20 billion target for 2030.

Finally, listen for management’s tone on windfall taxes. Rising refining profits have renewed scrutiny in Washington, and Exxon runs 850,000 barrels a day of capacity in the U.K. and Europe, where similar levies are under discussion.

A Real Test of Exxon’s Through-Cycle Pitch
Management has argued that Exxon can perform across market cycles. This quarter tests that claim directly, because refining, upstream growth and cost cuts must offset lower crude and complex derivative accounting. If underlying earnings hold up and buybacks stay on pace, the stock’s run has a stronger foundation. Keep an eye on fourth-quarter refining commentary, since that will shape whether the windfall lasts.

Contact [email protected] for any questions or corrections.

Transaction adds commercial and contract surety expertise, nationwide reach and best-in-class platform for agents, brokers and customers PHOENIX and BOSTON, Oct. 26, 2026 /PRNewswire/ -- CopperPoint Insurance Company ("CopperPoint") and General Indemnity Group ("GIG") today announced the successful completion of CopperPoint's acquisition of GIG from Boston Omaha Corporation (NYSE: BOC), creating an expanded specialty insurance and surety platform serving customers and distribution partners nationwide. CopperPoint is a leading Arizona-based specialty provider of workers' compensation and commercial insurance solutions.

Verizon's performance on a key measure of subscriber growth was more than double what analysts had expected

The wireless carrier beats Wall Street's earnings target and signs a deal to provide fiberoptic cables to Amazon data centers.

Home Depot has handed shareholders a dividend raise every year for over a decade, but the last two increases tell a very different story about where housing and free cash flow are actually headed.

Metric: Home Depot’s Quarterly Dividend Per Share
In 2009, with the housing market in collapse, Home Depot (NYSE:HD | HD Price Prediction) paid shareholders $0.225 per share each quarter. Today, the quarterly dividend is $2.33, roughly 10.4 times higher. For income investors at or near retirement, that one figure says more about how Home Depot operates than any single comp sales number.

Why the Dividend Tells You More Than Earnings
Earnings move with lumber prices, tariffs, and acquisition charges. A dividend is a cash promise the board renews four times a year, so it shows what management believes the business can fund across a full housing cycle. The February 2026 declaration marked Home Depot’s 156th consecutive quarterly cash dividend.

Growth paid for the climb. Revenue rose from $66.176 billion in the fiscal year ending January 2010 to $164.683 billion in fiscal 2025, while net income grew from $2.661 billion to $14.156 billion. The payout followed profits higher: $0.39 a quarter in 2013, $1.03 in 2018 and $2.09 in 2023.

Raises Are Shrinking as Housing Freezes
The pace has slowed sharply. The 2023 raise was 10%, followed by roughly 7.7% in 2024, 2.2% in 2025, and just 1.3% in 2026. Housing explains much of it. Existing home sales ran at 3.99 million annualized in September, a soft reading. On the second quarter call, management said housing turnover “has never been lower as a percentage of the housing stock” and saw “no sign of an inflection point at this moment.” Comparable transactions fell 1.0% that quarter while average ticket rose 2.8%.

Coverage Holds, but the Cushion Is Thinner
Fiscal 2025 dividends came to $9.152 billion against free cash flow of $12.646 billion, a payout of about 72% of free cash flow. That free cash flow fell 29.53% year over year. The forward annual dividend of $9.32 equals roughly 63% of fiscal 2025 adjusted EPS of $14.69. The first half of fiscal 2026 looks healthier: about $9.7 billion of free cash flow covered $4.64 billion in dividends. Leverage remains a factor, with net interest expense guided near $2.3 billion this year.

What Would Signal the Next Leg Higher
A bullish setup would include a pickup in housing turnover, operating cash flow recovering toward the $21.172 billion posted in fiscal 2023, and a February raise back in mid-single digits. A bearish setup would be another token increase, with free cash flow still trailing the dividend bill. Management’s guidance for EPS growth of flat to 4.0% suggests the next raise will stay modest. Meanwhile, shares fell 14.56% over the past year, lifting the yield to 2.87%.

Verdict
The size of each annual raise is the best real-time read on how confident Home Depot’s board feels about housing, and right now that read points to patience while coverage stays intact. For investors who want companies with even longer consecutive raise streaks, we ranked ten of them by valuation in a free Dividend Kings report.

Contact [email protected] for any questions or corrections.

Throughout his illustrious career as the leader of Berkshire Hathaway (BRKA -0.84%) (BRKB -0.87%), Warren Buffett has made some incredible trades. That's why many view him as the most successful investor ever.

One of these trades came after the Great Recession of 2007-2009, when banks were getting absolutely crushed. Banks had loaded up on mortgage-backed securities (MBS) and other risky bets on the underlying mortgages, particularly subprime mortgages -- many of which went into default during the housing bust.

This was a primary cause of the crisis and led to significant reputational damage to the sector, which some could argue never fully recovered. After the worst of the Great Recession, Buffett had Berkshire plow $10 billion into two banks.

Here's what those deals can teach today.

Image source: Getty Images.

Buying Bank of America and Goldman Sachs at attractive prices Buffett made his first of two big bank buys in 2008, starting with Goldman Sachs (GS -1.75%). At the time, Lehman Brothers had just collapsed, and major investment banks were struggling as short-term funding markets seized up.

Goldman Sachs needed capital to shore up liquidity and signal confidence to the market. Buffett and Berkshire were there, and they took advantage of the situation to secure a lucrative agreement for the large conglomerate.

Berkshire injected $5 billion into the bank in exchange for preferred stock that came with a 10% annual dividend. Goldman Sachs had the ability to repurchase those shares at par plus a one-time $500 million dividend, rights the bank would exercise in 2011.

Buffett also had all the Goldman Sachs executives agree not to sell their own shares before Buffett sold his.

GS Goldman Sachs Group$875.68-$15.62 (-1.75%)

NYSE · As of 4:00 PM ET 10/23/26

Additionally, Berkshire obtained warrants to buy an additional $5 billion of common stock at $115 per share. Berkshire would eventually exercise the warrants and hold Goldman Sachs stock until selling most of it during the depths of the pandemic.

After its success with Goldman Sachs, Berkshire invested in Bank of America (BAC -1.02%) in a similar deal in 2011. Three years after the start of the crash, banks were in a slightly better position, although their stocks were still struggling.

This time, Buffett approached Bank of America Chief Executive Officer Brian Moynihan. When he first got the longtime head of Bank of America on the phone, Moynihan told Buffett the bank didn't need capital.

Buffett replied: "I know, that's why I'm calling." Bank of America would eventually agree to the deal, largely because a capital infusion from Buffett would signal confidence to the market.

BAC Bank of America$50.56-$0.52 (-1.02%)

NYSE · As of 4:00 PM ET 10/23/26

Berkshire would inject $5 billion into Bank of America in exchange for preferred shares with a 6% annual dividend that could be redeemed at a 5% premium. It would also get warrants granting it the right to purchase 700 million common shares at an exercise price of $7.14 per share. Berkshire eventually exercised the warrants and today holds more than $24.4 billion of Bank of America stock, which is the fifth-largest holding in Berkshire's portfolio.

With Bank of America stock now trading for more than $50, Berkshire has made an absolute killing on the shares it acquired through the warrants.

What investors can learn There are several key takeaways from Berkshire's Great Recession bank bets.

The first, which I think will eventually be relevant in today's market, is to have cash on hand in case of crashes. Although it's nearly impossible to predict when they will happen, if you can put cash to work when they do, there is a very good chance you will make money.

The second is to never completely write off a sector. Chances are there will be at least a few good opportunities even if a sector has been left for dead, such as banking after the Great Recession.

In the case of Goldman Sachs, Buffett and Berkshire were able to set incredible terms, to the point that they were almost certain to make a good return. Although the average investor won't be able to do what Berkshire did, they can certainly find stocks trading at such good prices that the risk-reward proposition is tremendously favorable.

When Buffett invested in Bank of America, investors seemingly didn't care that the bank was well capitalized. Buffett looked past the noise, focused on the numbers, and was well rewarded. Investors who do the work can typically find similar opportunities.

Trhy sice zahajují týden relativně klidně, pod povrchem však narůstá řada rizik. Investoři budou sledovat, zda Fed a další centrální banky potvrdí jestřábí postoj vůči inflaci, zatímco technologický sektor čeká další test v podobě výsledků největších cloudových hráčů.

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On October 26, 2026, we take a closer look at the discounted cash flow (DCF) analysis for Qualcomm Inc QCOM. The stock has experienced a mixed performance recently, with a year-to-date increase of 4.5% but a notable decline of 10.8% over the past month. Here are some key takeaways from our analysis:

DCF Earnings-based intrinsic value of $100.06 compared to the current price of $175.91, indicating a margin of safety of -75.8%. DCF Free Cash Flow (FCF)-based intrinsic value stands at $229.56, suggesting a second opinion that the stock is modestly undervalued with a 23.4% margin of safety. GF Score™ of 92/100 indicates strong financial health, but the low predictability rank of 1/5 stars raises concerns about the reliability of the DCF inputs. What Is QCOM Worth? DCF Earnings-Based Model In our DCF earnings-based model, we assume Qualcomm's earnings will remain flat over the next decade, reflecting a growth rate of 0.0%. The discount rate is set at 11%, which incorporates the current 10-Year Treasury rate and an equity risk premium. The terminal growth rate is projected at 4% for the subsequent ten years.

Parameter Value Current EPS (TTM, excl. non-recurring) $8.67 10-Year Growth Rate 0.0% 10-Year Treasury Rate 4.99% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The two-stage model consists of a growth phase for the first ten years followed by a terminal phase. Here’s a summary of the calculations:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 0.0%, discounted at 11% $70.20 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $29.86 Intrinsic Value Growth + Terminal $100.06 With the current price at $175.91, the stock appears significantly overvalued, with a margin of safety of -75.8%. It’s important to note that GuruFocus uses EPS excluding non-recurring items, as research has shown that stock prices correlate more closely with earnings than with free cash flow. For further details, you can access the QCOM DCF Calculator.

What Does the Free Cash Flow DCF Say? The DCF model based on free cash flow (FCF) indicates an intrinsic value of $229.56. This contrasts with the earnings-based model, which suggests a significant overvaluation. The FCF-based model presents a more favorable view, indicating that Qualcomm is modestly undervalued with a margin of safety of 23.4%.

How Does GF Value™ Compare to the DCF Models? According to GuruFocus, the GF Value™ for Qualcomm is $175.65, which suggests that the stock is slightly overvalued at its current price. The GF Value™ is a proprietary measure that combines historical trading multiples, past business growth, and future performance estimates. The three models present differing perspectives on Qualcomm's valuation, highlighting the importance of considering multiple approaches. For more insights, visit the GF Value™ page.

What Does QCOM's GF Score™ Tell Us? The GF Score™ evaluates a company's financial strength, profitability, growth potential, valuation, and momentum. Qualcomm's score of 92/100 indicates strong fundamentals, but its low predictability rank of 1/5 stars suggests that the DCF model may not be as reliable for this stock. Here’s a breakdown of the key metrics:

Metric Rating GF Score™ 92/100 Financial Strength 7/10 Profitability 9/10 Growth 8/10 Valuation 7/10 Momentum 10/10 For more information, check out the QCOM stock page.

Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to the assumptions made regarding growth and discount rates. Stocks with low predictability ratings, such as Qualcomm's 1/5 stars, tend to produce less reliable DCF estimates. Additionally, the terminal growth rate of 4% is a simplifying assumption that may not reflect actual future performance.

What This Means for Investors The analysis reveals a clear tension between the different valuation models for Qualcomm. The DCF earnings-based model indicates significant overvaluation, while the FCF-based model suggests modest undervaluation. The GF Value™ adds another layer of complexity, showing a slight overvaluation. Furthermore, the guru ownership signal is noteworthy, with 21 gurus currently holding the stock, including 5 who have added to their positions, while 15 have trimmed their holdings. Insider activity shows net selling of $21.6M over the past year, which could be a cautionary signal. Overall, investors should consider these factors carefully when evaluating Qualcomm's stock. For a deeper dive into the valuation, visit the QCOM DCF Calculator.

Frequently Asked Questions What is QCOM's intrinsic value based on DCF?

QCOM's intrinsic value based on the earnings DCF is $100.06, while the FCF-based intrinsic value is $229.56.

Is QCOM overvalued or undervalued?

According to the DCF earnings model, QCOM is significantly overvalued, while the FCF model suggests it is modestly undervalued. The GF Value™ also indicates a slight overvaluation.

How reliable is the DCF model for QCOM?

The reliability of the DCF model for QCOM is limited, given its predictability rank of 1/5 stars.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures
I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

Fifty-plus years of unbroken dividend raises sounds impressive until you ask whether the cash flow actually backs it up. Four Dividend Kings with half-century track records face that test right now, and the answers reveal which ones retirement income can…

Retirement income holds up best when the check grows every year, regardless of the economy. Dividend Kings have shown they can do that: they have raised their payouts for at least half a century through recessions, rate shocks, and bear markets. The four names below combine that record with cash flow that easily covers today’s dividend. Cincinnati Financial (NASDAQ:CINF | CINF Price Prediction) has the longest run in the group. Its most recent payment completed 66 consecutive years of increasing annual cash dividends. None of the four offers a big starting yield, so the income case depends on reliable payments and regular raises that build up over a long retirement.

Automatic Data Processing: 51 Straight Years of Raises Funded by Payroll Cash
Automatic Data Processing (NASDAQ:ADP) yields 2.16% at a share price of $304.16. It pays $1.70 per quarter, for an annualized forward dividend of $6.80. The board’s latest 10% increase marked the 51st consecutive year ADP has raised its quarterly dividend. Dividend records show the quarterly rate grows every year, from $0.07625 in 1999 to today’s level.

Coverage is the strongest part of the story. In fiscal 2026, ADP generated $5.44 billion in operating cash flow and spent only $196.6 million on capital projects. Dividends paid totaled $2,626.3 million, and the company still had enough cash for $2,083.3 million in buybacks. Full-year EPS of $11.12 easily tops the annual dividend rate. ADP also earns interest on client funds, with an average balance of $41 billion yielding 3.5%. It earns that income by holding payroll cash until it is paid out.

For income investors, ADP works like a toll booth on employment. Revenue reached $21.95 billion, up 6.74%. For fiscal 2027, management forecast revenue growth of 5% to 6% and adjusted EPS growth of 9% to 11%. Chief Executive Maria Black cited “strong Employer Services retention and record client satisfaction.” Shares are up 20.87% year to date and trade at 22 times forward earnings.

The risk to watch is hiring. Management expects pays-per-control growth (a measure of headcount at client companies) of only 0% to 1%, which points to a cooling job market. ADP’s latest National Employment Report showed private employers adding only 90,000 jobs. Fiscal first-quarter results are due October 28, and slower hiring would show up there first.

Cincinnati Financial: 66 Years of Raises Backed by Growing Bond Income
Cincinnati Financial yields 2.03% at $176.30 a share. Its quarterly dividend of $0.94 is up 8% from $0.87 a year earlier, bringing the annualized forward payout to $3.76. Dividend records show a higher payout every year since 1999, and the company’s latest dividend release puts its run at 66 consecutive years.

Trailing earnings of $21.18 per share are far above the $3.69 paid over the past 12 months. That EPS figure includes investment gains that rise and fall with the stock market, though. Investment income is a cleaner measure: it rose 12% pretax in the second quarter, and bond interest climbed 14%. Bond income keeps coming in no matter how bad storm season gets, which gives the dividend a regular base. Shareholders’ equity stands at $16.67 billion, or $108.68 in book value per share.

The stock trades at 8 times trailing earnings, 18 times forward estimates and 1.564 times book value. Chief Executive Stephen M. Spray pointed to “non-GAAP operating income of $554 million” for the first half. The company also added more than 200 new agencies over the same period, expanding its distribution. A beta of 0.528 suits retirees who want a calmer ride, and shares are up 15.76% over the past year.

The main risk is catastrophe losses. Second-quarter adjusted EPS of $1.43 missed expectations of $1.82. The combined ratio climbed to 100.8% from 94.9%, and Ohio catastrophe losses ran about 4x the five-year average. One bad storm season can wipe out a quarter’s underwriting profit.

Johnson & Johnson: 64 Straight Raises Backed by a AAA Credit Rating
Johnson & Johnson (NYSE:JNJ) yields 1.97% at $263.86. The board raised the quarterly dividend 3.1% to $1.34, continuing its record to 64 consecutive years of dividend increases. The forward annualized payout is $5.36.

Its finances are about as strong as it gets. J&J is one of only two U.S.-based companies with a AAA credit rating, which is higher than the U.S. government’s. It produced more than $6 billion of free cash flow in the third quarter alone and reaffirmed full-year free cash flow guidance of $21 billion. The company holds about $17 billion in cash and marketable securities against roughly $45 billion of debt. Chief Financial Officer Joseph Wolk listed the dividend among management’s top uses of cash: “Our disciplined approach to capital allocation is centered on prioritizing investments that support key commercial launches, accelerate future innovation, increase our annual dividend, and strengthen our pipeline.”

Growth is picking up. Third-quarter sales reached $25.4 billion, up 6%. Oncology grew about 17%, and Tremfya sales rose 68.2%. Chairman and CEO Joaquin Duato said the company is “on track to meet our guidance and exceed $100 billion in annual revenue for the first time in our company’s 140-year history.” One-time charges inflate the trailing P/E of 40, while the forward multiple is 21. Shares are up 40.15% over the past year.

Talc litigation remains the main risk. The proposed ovarian talc resolution is valued at $5.5 billion, and that charge, along with deal-related expenses, cut third-quarter reported EPS to $0.09, down from $2.59 adjusted.

Lowe’s: Six Decades of Quarterly Checks at a Marked-Down Price
Lowe’s (NYSE:LOW) pays 2.36%, the highest starting yield in this group. The board raised the quarterly dividend 4% to $1.25, for a forward annualized payout of $5. Lowe’s has paid a quarterly cash dividend since going public in 1961. Its own releases say only that it has raised the dividend for more than 25 consecutive years, while widely followed Dividend Kings lists include Lowe’s. Chief Financial Officer Brandon Sink described the payout as “reinforcing our commitment to returning capital to shareholders and our status as a dividend aristocrat.”

Cash flow covers the dividend many times over. Lowe’s generated $3.1 billion of free cash flow in the second quarter and paid $673 million in dividends. The stock trades at 14.57 times free cash flow, a free cash flow yield of 6.86%. Interest coverage is 6.65x, and adjusted debt-to-EBITDA is 3.0x. Management is working toward a 2.75 times target by mid-2027. Shareholders’ equity stands at -$7.44 billion because of years of heavy buybacks, so cash coverage is a better safety measure than book value.

The share price has fallen while the dividend kept growing. At $198.69, shares are down 15.81% year to date and well below the 52-week high of $288.04. They trade at 16 times forward earnings. Online sales rose 15.7% in the second quarter, and return on invested capital reached 25.5%. CEO Marvin Ellison expects a housing recovery to bring do-it-yourself shoppers back first, “with positive growth in all the investments we’ve made in our e-commerce business, in our DIY loyalty platform, in our fulfillment capabilities, and our customer service initiatives.”

The near-term risk is a weak housing market. Management expects third-quarter adjusted EPS to come in roughly 7% below the prior year as DIY demand stays soft and residential construction remains under pressure.

Four Kings, One Retirement Income Plan
Automatic Data Processing, Cincinnati Financial, Johnson & Johnson and Lowe’s earn a place in a retirement portfolio because their cash flow and earnings comfortably cover the dividend. Each has kept raising its payout through decades of downturns. Lowe’s posts the top starting yield after a rough year for the stock, and J&J brings a AAA balance sheet. ADP and Cincinnati Financial add growth linked to payrolls and bond income, so together the four provide an income stream built to grow every year.

If you want a longer list, we ranked ten Kings by valuation right now in a free report you can get here: 10 Dividend Kings to Buy Now and Hold Forever.

Contact [email protected] for any questions or corrections.

Brookmont Capital Management trimmed its stake in Chevron Corporation (NYSE: CVX) by 24.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,177 shares of the oil and gas company's stock after selling 2,649 shares during the quarter. Brookmont Capital Management's

Hilton Head Capital Partners LLC purchased a new stake in shares of Caterpillar Inc. (NYSE: CAT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,393 shares of the industrial products company's stock, valued at approximately $1,129,000. Other hedge funds

After peaking earlier this year, precious metals have ground through a dull, downward stretch that has pushed investor sentiment to extreme bearishness.

Innovative Industrial Properties (NYSE: IIPR - Get Free Report) will likely be posting its Q3 2026 results after the market closes on Monday, November 2nd. Analysts expect the company to post earnings of $0.90 per share and revenue of $60.71 million for the quarter. Parties can check the company's upcoming Q3 2026 earnings report page for

On October 26, 2026, we delve into the DCF analysis for Linde PLC (LIN), a company that has seen notable price performance recently with a year-to-date increase

Oracle is sitting on a record AI backlog that analysts say could justify nearly doubling the stock price, yet the company just posted negative free cash flow and its CFO cannot say when that changes. Something has to give.

Oracle (NYSE:ORCL | ORCL Price Prediction) trades at $126.08. Its record AI backlog and its debt-funded expansion are drawing the stock in opposite directions. Shares were recently caught up in a broader AI debt selloff.

Oracle sells databases and enterprise applications, and it now runs one of the fastest-growing AI cloud businesses. Cloud revenue reached $11.61B last quarter, up 62%, and now makes up 60% of total revenue. Paying for that growth drove quarterly capex to $28.5B and free cash flow to negative $5.4B. The stock is down 34.41% year to date.

A $664 Billion Backlog Priced at 18 Times Forward Earnings
Remaining performance obligations total $664B, up $209B year over year. Management expects “around half of our RPO to convert into sales over the next 36 months.” Customers signed more than $30 billion in new AI contracts, and most were structured as prepayments or bring-your-own-hardware deals. Cloud infrastructure revenue increased 121%. GPU use hit 97.9%, and renewals were priced at a 20% premium.

Operating leverage is showing up. Operating income rose 57.3% on 29.6% revenue growth. Guidance calls for at least $90B in fiscal 2027 revenue and $8.10 in non-GAAP EPS. Over the past 30 days, 35 analysts raised full-year estimates and only 1 cut them. A forward P/E of 18 and a PEG of 0.802 look cheap for that growth rate.

Interest Costs and Dilution Threaten Shareholder Returns
Free cash flow was negative $23.7B in fiscal 2026. Quarterly interest expense rose 55% to $1.43B. Total debt stands at $155.9B, and capital lease obligations add $30.6B. Oracle just finished a $20B at-the-market equity sale and plans to raise about $40B this fiscal year through debt and equity. Asked when free cash flow turns positive, CFO Hilary Maxson said, “We haven’t given a particular timeframe on that yet.”

A handful of very large AI contracts make up much of the backlog, and license revenue fell 15%. DA Davidson’s Gil Luria named data center execution and a leveraged balance sheet as the two biggest constraints. The market also punishes misses. Shares fell about 13% after a revenue miss last December.

Execution Is Strong, but Cash Flow Proof Is Still Missing
Execution has been strong. Oracle delivered 850MW of capacity and generated record operating cash flow of $23.1B. Funding remains unclear. Net cash capex could reach $70 billion this year, and management has given no date for positive free cash flow.

Oracle itself is the expansion story here, but it isn’t building alone. The companies that equip these data centers — providing electricity, cooling and network infrastructure — make up a trade of their own, and we covered seven of them in a free report: 7 Stocks Powering the AI Boom (That Aren’t Chipmakers).

The next earnings report tests cloud growth guidance of 65-71% and EPS guidance of $1.85-$1.93. Investors should also watch borrowing terms and progress at the New Mexico and Wisconsin sites.

Analysts See 87.6% Upside as the Stock Lags the S&P 500
The consensus target at $236.54 suggests a 87.6% gain from $126.08. Targets are only one data point. 43 analysts cover the stock:

Strong Buy: 7
Buy: 28
Hold: 7
Sell: 1

Oracle trades at 20 times trailing earnings and has a beta of 1.77. Over the past year, shares fell 54.35% while the S&P 500 rose 13.13%. Over the past month, Oracle dropped 12.42%, and the index slipped 1.02%.

Free Cash Flow Is the Missing Piece for Oracle
At $126.08, Oracle’s risks and rewards look balanced.

The backlog is real, and revenue from it is starting to show up. Yet the balance sheet takes on each new contract before shareholders see the cash. A stronger outlook needs two things: a clear date for positive free cash flow, and proof that customer prepayments are reducing outside funding needs. A weaker outlook would follow a revenue miss, slower cloud growth or expensive new debt.

Upside could arrive quickly. A turn in free cash flow could rerate the stock quickly at 18 times forward earnings. Dilution remains a risk, because more equity issue would dilute current holders. Each quarter, check RPO conversion, net capex and interest expense.

Oracle’s backlog makes the business more valuable, but until the funding gap closes, the funding gap remains the key variable for the stock.

Contact [email protected] for any questions or corrections.

New capabilities ground AI agents in business context, enable multidimensional simulations, and govern data consistently across the enterprise data estate, without costly data movement LAS VEGAS, Oct. 26, 2026 /PRNewswire/ -- Oracle AI World -- Oracle today announced new capabilities for Oracle Autonomous AI Lakehouse that help organizations give users and AI agents business context, perform multidimensional simulations, and strengthen data governance across the enterprise data estate. Building on Autonomous AI Lakehouse's open, high-performance foundation, the latest updates let customers work with real-time operational data alongside data in Apache Iceberg tables, while preserving business context, applying unified data governance, and avoiding unnecessary data movement.

Using AI-powered Oracle Fusion Cloud Applications, global product design and technology company is automating work across finance and supply chain to support continued growth LAS VEGAS, Oct. 26, 2026 /PRNewswire/ -- Oracle AI World -- Oracle is helping SharkNinja, a global product design and technology company, support its AI-powered growth and pursue its mission to create and deliver high-performance technology to every consumer. With Oracle Fusion Cloud Applications for finance and supply chain, SharkNinja has been able to standardize processes, automate routine work, and improve access to real-time insights to help move business processes forward.

Fusion Companion and Fusion Agentic Home help organizations achieve business outcomes by enabling employees to execute work across different AI clients while maintaining enterprise security and control LAS VEGAS, Oct. 26, 2026 /PRNewswire/ -- Oracle AI World -- Oracle today announced Oracle Fusion Companion with Oracle Fusion Agentic Home, two new capabilities for Oracle Fusion Cloud Applications that transform how employees get work done. Fusion Companion provides an intelligent layer that understands business objectives and automatically selects and coordinates the appropriate transactions, workflows, approvals, AI agents, and agentic applications needed to execute work and achieve business outcomes.