Heading into the last three months of the year, there is no shortage of quality stocks for income investors to choose from now. Three of the best ones you can buy today include Viatris (VTRS 0.98%), Chevron (CVX 0.57%), and AT&T (T 1.17%). They all pay better than the S&P 500 average yield of 1.5%, and their fundamentals are also sound. Here's a closer look at all three stocks and why you should consider buying them today.

1. Viatris

Generic drugmaker Viatris offers investors both stability and a high yield. Its business is broad as its products help treat multiple therapeutic areas, including diabetes, immunology, and oncology. The company is coming off a strong second quarter where free cash flow of $719 million for the period ended June 30 was up more than 50% year over year. It used some of that cash ($627 million) to pay down debt.

Viatris isn't a stock that's likely to generate much growth, but the company has been launching new products this year and anticipates up to $600 million in new revenue from them. With a 4.9% yield, the dividend may be the most attractive feature of the healthcare stock. The $146 million that the company paid out during the period was just one-fifth of the free cash it reported. If the trend keeps up, there's little reason to worry about the safety of this payout.

At present, the shares trade at a minuscule three times future earnings (based on analyst projections for 2023). On average, healthcare stocks trade at more than 15 times their future profits. At that low of a valuation and with the dividend being so high, Viatris could be a steal of a deal for income investors.

2. Chevron

Another solid dividend stock to buy is oil and gas producer Chevron. Elevated oil prices have made it a hot stock this year as its profits for the first six months of 2022 totaled $17.9 billion and were four times the $4.5 billion the company reported in the prior-year period. 

How consistently the business can produce these types of numbers will depend on how long oil prices remain high. Although prices have been cooling off in recent weeks, the Organization of the Petroleum Exporting Countries  (OPEC) is looking at deploying production cuts, which could send the price of oil back up. West Texas Intermediate (WTI), a key industry benchmark, is trading at around $93 per barrel. That's down from the $130 it hit in March as it reached a 13-year high. Production cuts could send it back up to well over $100.

Even if WTI remains at current levels, that could be enough to ensure Chevron continues posting impressive results. At a forward price-to-earnings (P/E) multiple of nine, the stock also provides some great value for investors. Its dividend yield of 3.5% is well above average and can make for a solid income investment to buy in September.

3. AT&T

Telecom giant AT&T pays the highest yield on this list at 6.2%. It's high payout may be concerning for investors, but the annual dividend of $1.11 was based on the assumption it pays out 40% of free cash flow, which gives the company a buffer against  possible headwinds.

AT&T's diluted per-share earnings of $0.59 in its most recent quarter, for the period ended June 30, also suggest the company's financials are in a strong enough position to handle the current payouts. Plus, the company has been raising prices on its older plans, which should help improve margins or push customers onto its unlimited plans. AT&T has also been deploying cost-cutting efforts that will shave billions off its expenses.

Now that AT&T has spun off HBO (which today is part of Warner Bros. Discovery), its business can focus more on building out its telecom services, being leaner, and providing investors with a solid source of recurring income. Although there is some risk here given that inflation can cut into its profits, AT&T's stock trades at a forward P/E multiple of seven (the S&P 500 averages a multiple of 18).

Investors are getting it at a great discount today, which can justify taking on some risk. If the company continues to cut costs and deliver improved financials, AT&T's stock could look like a bargain in a year or two.