Top Wall Street analysts are bullish on these dividend stocks

The U.S. stock market has been under pressure recently due to fears of an economic slowdown, but dividend-paying names can help smooth the ride for investors.

Investors can consider the recommendations of top Wall Street analysts as they search for stocks that are backed by strong financials and the ability to pay dividends consistently.   

Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance.

Health-care giant Pfizer (PFE) is this week's first dividend stock. The company announced better-than-expected second-quarter results, driven by its cost-cutting initiatives and solid sales of non-Covid products. Pfizer raised its full-year guidance, reflecting strong demand for its non-Covid business, which is gaining from several acquired drugs and recently launched products.

In the first six months of 2024, Pfizer returned $4.8 billion to shareholders through dividends. The stock has a dividend yield of 5.9%.

In reaction to the upbeat Q2 results, Goldman Sachs analyst Chris Shibutani reiterated a buy rating on PFE stock and increased the price target to $34 from $31. The analyst said that while he anticipated that Pfizer will raise its outlook, the magnitude of the increase surpassed his expectations.

The analyst increased his revenue estimates to reflect the strength in PFE's heart disease drug, Vyndaqel, and cancer treatment Padcev. He also raised his EPS estimates, thanks to improved top-line expectations and enhanced gross margin.

Shibutani said that while management didn't provide any significant updates related to the company's obesity programs, he does see the "scope for further beat and raise quarters during the balance of the