With the bull market now more than six years old, investors are looking for value and means of keeping upside in the stock market with at least some degree of protection. This often translates to investors wanting to own solid dividend-paying companies that are also safe stocks. One investor who loves dividends and well-run companies is Warren Buffett. It may seem ironic that his Berkshire Hathaway Inc. (NYSE: BRK-A) does not pay a dividend, but this would not be the first “do as I say rather than do as I do” example when it comes to Buffett.

24/7 Wall St. routinely tracks the top stock holdings of Buffett and other key financial market gurus. After looking at the changes in the full list of Buffett stocks from the first quarter of 2015, it seems that investors have many choices to invest in when it comes to great dividend payers that are well-established companies.

Riding Buffett’s coattails is nothing new. Just keep in mind that his cost basis is far lower in some of these positions than the current share price. That means that his effective yield is massively higher for him than what a new investor gets today.

24/7 Wall St. has modified the list of Buffett stocks to keep it relevant. Those stock positions that are mere token positions of a few million dollars (chump change or petty cash to Berkshire Hathaway) or a few hundred thousand shares have been screened out because they do not represent anything of substance on a Buffett scale. Also screened out of the dividend contenders were American depositary shares due to dividend volatility from currencies and sometimes different payment schedules.

The largest yields and stakes were seen in Verizon Communications Inc. (NYSE: VZ), General Motors Co. (NYSE: GM), Wells Fargo & Co. (NYSE: WFC), International Business Machines Corp. (NYSE: IBM), Coca-Cola Co. (NYSE: KO) and several other large cap well-heeled companies. These dividend payments from the top Buffett stocks look like they bring in a couple to few billion dollars a year to Berkshire Hathaway’s cash balances, and that is not including the receipts from preferred shares and what Buffett takes in from other non-public and partnered ownership stakes.

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As of mid-May of 2015, the median dividend yield for the 30 stocks that make up the Dow Jones Industrial Average was 2.7%. The top 10 dividend stocks of Buffett’s nearly 50 equity holdings also yield a minimum of right at the 2.7% mark. Many of these stocks also fit in with the recently refreshed list of stocks to own for the next decade.

The top Buffett dividend yields also show the stake held by Berkshire Hathaway and the market value of the stake. Recent trading history, consensus analyst price target data and the total market cap of each company also have been identified in the description of each. These are the top Warren Buffett dividend stocks holdings that investors can buy now, ranked in order of highest yield to lowest.

Verizon Communications
> Dividend Yield: 4.4%
> Buffett Stake: 15 million shares
> Market Value: $750 million

Verizon Communications Inc. (NYSE: VZ) is the largest telecom. Buffett’s team likely feels like the company has less change ahead than rival AT&T with its major acquisition of DirecTV, although they also own DirecTV shares. Verizon has raised dividends endlessly, and its $2.20 dividend seems very fair now that the Verizon Wireless earnings are all in-house. The four-way price was just does not seem to matter to Team Buffett when it comes to Verizon.

Verizon shares were recently trading at $49.86. The stock has a consensus analyst price target of $51.78 and a 52-week trading range of $45.09 to $53.66. The company has a market cap of $203 billion.

General Motors
> Dividend Yield: 4.1%
> Buffett Stake: 41 million shares
> Market Value: $1.5 billion

General Motors Co. (NYSE: GM) is relatively new on the dividend leaders list. Buffett had been raising his stake, but that was kept static in the first quarter. GM recently raised its dividend, and that yield of just over 4% rivals telecom and tobacco yields. All of that, and GM is one of the biggest brands in the world and is likely to be around for decades.

GM shares were at $35.71, below the consensus price target of $42.18. The stock has a market cap of $57 billion and a 52-week trading range of $28.82 to $38.99.

National Oilwell Varco
> Dividend Yield: 3.6%
> Buffett Stake: 2.0 million shares
> Market Value: $105 million

National Oilwell Varco Inc. (NYSE: NOV) is a giant in oil field equipment. It is one of the best run out there, but Team Buffett has lowered its stake despite the company maintaining its $0.46 per quarter payout in the face of lower oil prices. National Oilwell Varco is a company that would fit the Buffett portfolio to the max under normal energy price scenarios, so maybe his portfolio managers will increase their stakes after the oil price dust settles wherever it is going to settle.

Shares of National Oilwell Varco were at $51.31 on Friday, with a market cap of $20 billion. The consensus analyst price target is $51.00, and the 52-week trading range is $46.08 to $86.55.

General Electric
> Dividend Yield: 3.3%
> Buffett Stake: 10.6 million shares
> Market Value: $300 million

General Electric Co. (NYSE: GE) has been a static stake of late, after being increased from the warrants. It is hard to calculate the cost basis of GE for Berkshire, but GE is changing from a financial and industrial conglomerate into a post-financial player focused on shrinking its float with a huge buyback and by rekindling dividend growth after it makes its transformational post-financial moves. GE remains one of the 10 stocks to own for the next decade.

GE shares were trading at $27.73, compared to the consensus price target of $30.15. The company has a market cap of $279 billion and shares are near the higher end of the 52-week trading range of $23.41 to $28.68.

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Procter & Gamble
> Dividend Yield: 3.3%
> Buffett Stake: 52.8 million shares
> Market Value: $4.2 billion

Procter & Gamble Co. (NYSE: PG) is one we were mixed on when deciding to include in the Buffett stocks. After all, Buffett is swapping P&G shares for the Duracell unit. How this pans out has yet to be seen. Still, P&G is the world’s largest consumer products giant with a mega-cap status. Frankly, P&G could be considered a Buffett sort of stock whether it is a stake or not. Oh, and P&G was just relisted as a stock to own for the decade.

Shares of P&G were exchanging hands at $80.27 on Friday, within a 52-week trading range of $77.29 to $93.69. The consensus price target is $87.56 and the market cap is almost $218 billion.

Coca-Cola
> Dividend Yield: 3.2%
> Buffett Stake: 400 million shares
> Market Value: $16 billion

Coca-Cola Co. (NYSE: KO) may be under consumer pressure over sugar-water drinks, but do not tell that to Buffett. Did he really mean it when he said he drinks four Cokes a day? Either way, Coca-Cola is branching out in deals with Keurig Green Mountain and Monster Beverages. The company is also focusing on being less of just the maker of Coca-Cola with sports drinks and water. Buffett’s cost basis has to be getting close to zero, if you consider dividends and do not consider tax rates on dividends.

Shares of Coca-Cola were at $41.13 as the week was coming to a close. The company has a market cap of $179 billion. The consensus price target is $44.53, and the 52-week trading range is $39.06 to $45.00.

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International Business Machines
> Dividend Yield: 3.2%
> Buffett Stake: 79.5 million shares
> Market Value: $13 billion

International Business Machines Corp. (NYSE: IBM) is one of the top four stocks in the Buffett holdings, and he has had to remain positive on his public view of Big Blue. The reality is that Buffett’s largest technology stock investment has yet to pay off, and the investment community is seeing through the financial engineering behind the buybacks. At least IBM is looking more focused on its dividend now, and that may be enough for some investors to buy and hold for years while IBM figures out its direction.

Shares of Big Blue were trading at $172.43 on Friday, within a 52-week range of $149.52 to $196.40. The stock has a consensus price target of $160.74, and the company has a market cap of $170 billion.

Phillips 66
> Dividend Yield: 2.8%
> Buffett Stake: 7.5 million shares
> Market Value: $600 million

Phillips 66 (NYSE: PSX) was recently put as a larger stake, which is impressive considering some of the other oil and gas trends. Being in refining and transportation has so far not been bad for the giant, and in some ways lower energy prices help the overall business. Apparently Phillips 66 is not worried about its prospects either, as the May dividend payment was just raised by 12% from the prior dividend, and its dividend does not even account for 50% of normalized operating earnings expectations.

Phillips 66 shares were changing hands at $80.96 on Friday. The stock has a consensus analyst price target of $90.29 and a 52-week trading range of $57.33 to $87.98. The market cap is $44 billion.

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Deere
> Dividend Yield: 2.7%
> Buffett Stake: 17.3 million shares
> Market Value: $1.5 billion

Deere & Co. (NYSE: DE) recently managed to surprise handily to the upside on earnings. It was as if the currency woes of late did not matter. Buffett’s portfolio managers also recently raised the Deere stake, but it has entered and exited the official portfolio in the past. The company has a leadership position and its markets in agriculture are likely to remain firmly in place for decades.

Deere shares were at $93.29, above the consensus analyst price target of $85.24. The stock has a 52-week trading range of $78.88 to $93.78. Deere’s market cap is nearly $32 billion.

Wells Fargo
> Dividend Yield: 2.7%
> Buffett Stake: 470 million shares
> Market Value: $26.7 billion

Wells Fargo & Co. (NYSE: WFC) had grown for years as a stake, and it is Buffett’s largest stake of all. After pausing that growth, the last holdings report showed another slight increase. While JPMorgan used to be the best run bank, Wells Fargo is now the largest in mortgages, and it has the least of the trading and international derivative activities of the major banks that regulators are trying to limit (or kill). This is Buffett’s favorite bank, and it has the biggest premium-to-book value of the money center banks as a true vote of confidence, and Wells Fargo is likely to be the least hassled by the Federal Reserve over capital return plans each year.

Shares of Wells Fargo were at $56.11, in a 52-week trading range of $46.44 to $56.70. The consensus price target is $57.35. The company has a market cap of $289 billion.

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