One thing that is of paramount importance for long-term growth investors, especially in a secular bull market, is to not overpay for stocks. When investors lose track of what is growth and what is really momentum disguised as growth, they can get burned, and burned bad. In a new report, UBS updates its list of quality growth at a reasonable price, or Q-GARP, stocks as they call them.

The new report includes some additions and deletions. We report on those, and give an update on three of the highest yielding members of the group.

Mylan Inc. (NASDAQ: MYL) is a new member to the Q-GARP list. One of the largest generic drug companies in the world, Mylan reported better-than-expected third-quarter 2014 earnings that increased 41.5% from the year-ago quarter, due to higher revenues and better gross margins. The UBS analysts believe that earnings per share will be in excess of 15% over the next two years, driven by generic drug inflation, new drug prospects and benefits from Mylan’s purchase of Abbott’s non-US developed markets generic pharmaceutical business.

The UBS price target for the stock is $61. The Thomson/First Call consensus price target is $59.75. Mylan closed Monday at $55.13, up over 2% on the day.

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Coca-Cola Co. (NYSE: KO) is one of the most recognizable brands in the world, and its biggest shareholder is Warren Buffett. The UBS team however is removing the company from the Q-GARP list of stocks to buy. Sales growth has been sluggish over the past year, and while UBS believes the company is taking the right strategic action to reinvigorate revenue growth, a strong U.S. dollar could continue to be a headwind to the international business.

Coca-Cola investors are paid a solid 2.9% dividend. The UBS price target for the stock, which is still rated Outperform, is $44. The consensus price target is $44.25. Shares closed Monday at $42.92.

Colgate-Palmolive Co. (NYSE: CL) is a top consumer staples name on the Q-GARP list, and it was added to the firms high conviction call list recently. Colgate sells its products in more than 200 countries and makes over 75% of its revenue outside the United States, which provides geographic diversification and growth opportunities in emerging markets. This diversity, matched with a huge list of consumer products, keeps revenues and dividends growing. While a stronger dollar could dampen growth, sales should remain solid.

Colgate-Palmolive investors are paid a 2.1% dividend. The UBS price target is $74, and the consensus target is posted at $69.79. Colgate closed Monday at $67.92 a share.

Emerson Electric Co. (NYSE: EMR) is a company that UBS feels will benefit from the expected upturn in capital spending in the second half of this year and into 2015. It boasts a solid balance sheet, with a tiny 0.5 debt-to-equity ratio. Plus the dividend is well covered and was recently increased. Emerson’s Process Management division was recently selected as the main automation contractor for the Shah Deniz Stage 2 development project in the Azerbaijan sector of the Caspian Sea. Valued over $40 million, the contract was awarded by BP and involves the installation of integrated control and safety systems to help ensure safe and efficient control of gas production on two new offshore platforms. Emerson will also provide automation control and technology on the company’s expanded onshore gas processing plant at the Sangachal terminal.

Emerson investors receive a 3% dividend. While the UBS price target is $75, the consensus target is higher at $78.89. Emerson closed Friday at $63.74.

Qualcomm Inc. (NASDAQ: QCOM) is not only a top stock to buy at UBS, but many of the top firms we cover on Wall Street are also very positive on the company. It shipped 225 million mobile station modem chips and accumulated $6.81 billion in revenue during its most recent quarter. In addition to adding to the business with Apple for the iPhone 6, Qualcomm is making a huge move into bringing sophisticated LTE connectivity to the automobile industry. The company is looking to employ a peer-to-peer (or car-to-car) communication technology that runs on Wi-Fi and is said to warn of possible collisions much better than radar technology.

Qualcomm investors receive a solid 2.37% dividend. The UBS price target is $86, and the consensus is placed at $84. Shares closed trading on Monday at $70.40.

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While the UBS Q-GARP dividend leaders are not the highest paying on Wall Street, they are among the most reasonable pricewise. That is the reason for their inclusion in the first place. The added bonus of solid dividends make the stocks on the UBS list suitable for almost all portfolios, especially long-term holders, who will benefit from the solid total return potential.

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