With the market spiraling ever higher, many investors are starting to get a little nervous, and with good reason. With the market trading at 18 times earnings, it is simply expensive. A new research note from UBS includes changes to the firm’s Quality Growth at a Reasonable Price (Q-GARP) portfolio. Investors concerned with high prices may want to consider taking profits and moving money to some of the stocks on the UBS list.

In the new report, the UBS team makes a few changes to the portfolio. The firm adds Ameriprise Financial Inc. (NYSE: AMP) to the list. Carpet and flooring giant Mohawk Industries Inc. (NYSE: MHK) is removed after a very big run.

We screened the list for five of the highest yielding stocks to buy. They are Boeing Co. (NYSE: BA), Colgate-Palmolive Co. (NYSE: CL), Home Depot Inc. (NYSE: HD), Invesco Ltd. (NYSE: IVZ) and Qualcomm Inc. (NASDAQ: QCOM).

Boeing

Boeing has had a much better 2015 than last year, when the stock badly lagged the overall market. The company is forging ahead with the new 737 Max and 767 models, but some continued problems with the 787 Dreamliners are still plaguing the aerospace giant. At least they look closer to a more complete resolution.

Sales for jumbo jets have been harder to come by in recent years, and 747 sales have dropped dramatically, reflecting the rise of two-engine jets that have come close to matching its range. Over the same period, production of large twin-engined jets like the Boeing 777 has risen seven-fold. Last year, Boeing booked 283 new orders for the 777 and now has a backlog of 547 orders.

Boeing investors are paid a very solid 2.4% dividend. The UBS price target for the stock is a surprising $132. The Thomson/First Call consensus target is $162.05. Shares closed Thursday at $151.97.

Colgate-Palmolive

This stock makes not only the Q-GARP list, but also the Dividend Rulers portfolio at UBS. The company 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 for the company. This diversity, matched with a huge list of consumer products, keeps revenues and dividends growing. The company raised the dividend by 6% in February.

Colgate-Palmolive investors are paid a 2.2% dividend. The UBS price target is $74, and the consensus target is posted at $72.03. Colgate closed Thursday at $70.08 a share.

ALSO READ: 5 Potential MLP and General Partner Buyout Candidates

Home Depot

Home Depot remains one of the top consumer discretionary stocks to buy on Wall Street, and the company is coming into the sweet spot of the year for sales. Between the spring cleaning activity, and the increase in Americans once again looking for a new home, the time is ripe for investors looking to own a top retail stock. Home Depot is also becoming a darling of some quantitative hedge funds, as some see the stock as way undervalued on an intrinsic basis.

In addition to the company’s already huge domestic presence, some Wall Street analysts have pointed to the recent troubles at Sears Holdings and Lumber Liquidators as even more solid impetus for the home improvement giant. Some have speculated that the company may have an acquisition eye cast toward the latter.

Home Depot investors are paid a 2.08% dividend. UBS puts a $129 price target on the stock, while the consensus target is $123.77. The stock closed most recently at $113.37.

Invesco

Invesco is a financial services company that has strong positions in both equity exchange traded funds (ETFs) and actively managed equity and debt mutual funds. The company looks to be very well-positioned to capitalize on inflows into both segments, as well as higher asset prices, as many on Wall Street see a continuation of the six-year bull market.

ALSO READ: 5 Large Cap Rising Star Stocks Portfolio Managers Love

Invesco PowerShares is the boutique investment management firm that manages a family of ETFs. It has been part of Invesco, which markets the PowerShares product, since 2006. The incredible growth and popularity of the product is why many on Wall Street remain so bullish on the stock. Many analysts see the company as one that is best positioned to compete for share given mix, product offerings and attractive relative performance.

Invesco investors are paid a 2.5% dividend. The UBS price target is $42. The consensus target is higher at $46.13. The shares closed Thursday at $40.50.

Qualcomm

Qualcomm got absolutely blasted in January when it reported solid earnings numbers that beat estimates but lowered its full-year earnings and revenue forecasts as it lowered the sales outlook for its semiconductor business. Not what analysts were expecting. The stock is a Wall Street favorite, and many are sticking to their guns, basically saying that trading at current levels, the stock is at 13.81 times estimated 2015 earnings, it is a tremendous long-term value. Qualcomm is a quality tech company with recurring royalty revenue and a strong footprint, so patient investors may fare very well.

The company is reported to be losing chip business, and activist investors Jana Partners is reported to be pressuring the company to spin off that business. Jana also wants Qualcomm to cut costs, accelerate a share buyback, improve disclosures and refresh its board. Jana is listed as one of the company’s largest shareholders.

Qualcomm investors are paid a 2.8% dividend. UBS has a $71 price target, and the consensus estimate is higher at $76.50. Shares closed Thursday at $67.91.

ALSO READ: Merrill Lynch Makes Changes to Red-Hot Endeavor Stock List

These stocks not only offer investors a solid growth channel, but consistent and rising dividend streams that can help to offset periods of market weakness.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.