The Smartest Dividend Stocks to Buy With $400 Right Now

Aside from the movement of stock prices, investors may hesitate to take advantage of dividend stocks. With inflation currently around 6%, the average S&P 500 dividend yield of 1.5% may hold little appeal. Those with a relatively modest amount to invest, such as $400, may feel like that amount generates meager amounts of passive income.

However, some appealing dividend stocks offer returns far above 5% and sell for less than $400 per share -- and even that amount can bring investors some passive income. Target (NYSE: TGT), Texas Instruments (TI) (NASDAQ: TXN), and Chevron (NYSE: CVX) could serve as excellent starter stocks for such investors.

Target stock has taken a hit in recent weeks due to supply-chain-related issues. Thanks to over-ordering, Target will likely have to unload billions of dollars worth of merchandise at significantly lower prices. Consequently, numerous investors dumped the stock.

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Source Fool.com