3 Dividend Aristocrats to Buy Right Now With No Hesitation

It can sometimes be difficult to make a decision about buying a stock. That's especially the case when the overall market is highly volatile.

But investing in high-quality stocks can help make the process less painful. Most companies that belong to the elite group of Dividend Aristocrats -- S&P 500 members that have increased their dividends for at least 25 consecutive years -- meet that quality threshold. Here are three Dividend Aristocrats to buy right now with no hesitation (listed in alphabetical order).

1. AbbVie

AbbVie (ABBV 0.44%) has increased its dividend for 50 years in a row. Since separating from Abbott Labs in 2013, the big drugmaker has raised its dividend by more than 250%. Its dividend yield stands at nearly 4%.

The stock has also handily beaten the S&P 500 so far this year. This performance follows a 26% gain in 2021. Despite the market-beating returns, AbbVie's valuation remains attractive, with shares trading at a little over 12 times expected earnings.

You might be surprised by AbbVie's rise considering that the company faces the loss of U.S. exclusivity for its top-selling drug, Humira, in just a few months. However, the market seems to have already baked the anticipated revenue decline into the stock price. More importantly, AbbVie should be poised to quickly return to solid growth.

AbbVie already has two successors to Humira on the market -- Rinvoq and Skyrizi. It fully expects the two products will together eventually top Humira's peak annual sales. In addition, the company's lineup features several other solid growth drivers, notably including antipsychotic drug Vraylar and blood cancer drug Venclexta.

Some might dwell on AbbVie's temporary pain in 2023. Smart investors, though, will focus on where the drugmaker will be three or more years from now.

2. Air Products & Chemicals

Air Products & Chemicals (APD -1.13%) has raised its dividend for 40 consecutive years. The industrial gas producer expects to return more than $1.4 billion to shareholders this year through its dividend program. Its dividend currently yields nearly 2.8%.

Unlike AbbVie, Air Products hasn't delivered positive returns so far in 2022. The stock is down around 20%, primarily as a result of investors' concerns about the economy.

But the company's business remains strong. Air Products' sales jumped 22% year over year in its latest quarter. Earnings rose 11% despite some headwinds from inflation, the strong U.S. dollar, and supply chain issues.  

Even better, Air Products' long-term prospects look bright. The company is already the world leader in gray hydrogen, which is created using natural gas. It intends to leverage this position to extend its dominance into low-carbon blue hydrogen and zero-carbon green hydrogen. 

3. Chevron

Chevron (CVX -1.69%) has increased its dividend for 35 consecutive years. The oil and gas giant has long been known for its attractive dividend yields. That's still the case, with Chevron's dividend yielding more than 3.5%.

In addition to its great dividend, Chevron has generated impressive share price appreciation this year as well. It's one of the best Dow Jones stocks of 2022 so far, with shares soaring close to 40%.

The company's near-term prospects appear to be solid. Oil prices have begun to rise again as a result of the OPEC+ decision to cut production. Global supply also continues to be affected by the Russian invasion of Ukraine.

Oil stocks like Chevron could be less appealing over the longer term. However, the demand for fossil fuels won't disappear anytime soon. Chevron is also focusing more heavily on clean energy solutions. For example, the company recently acquired Renewable Energy Group in a deal that will make it one of the leaders in renewable fuels.