Friday reminded everybody of just how long we have a gone without a 1% or greater sell-off, and the volatility has jumped big time. Of course the big scare that prompted the selling was that the Federal Reserve may raise rates at the September meeting. Even if it does, which remains unlikely, the increase will be a paltry 25 basis points, or one quarter of one percentage point.

Still, investors never take kindly to a 2.45% sell-off, like the one we saw in the S&P 500, and they may be looking to shift more aggressive positions into dividend-paying large caps, which will remain in demand as rates will continue to stay low through 2017. We screened the Merrill Lynch research universe for stocks rated Buy, paid a dividend higher than the 30 year U.S. Treasury, which is at a 2.4% yield, and had the best volatility /risk rating.

We found four that make good sense now for worried equity investors.

AT&T

This stock has had an incredible run this year but is off over 10% in less than a month. AT&T Inc. (NYSE: T) is the world’s largest provider of pay TV, with TV customers in the United States and 11 Latin American countries. In the United States, the AT&T wireless network has the nation’s self-described strongest 4G LTE signal and most reliable 4G LTE. The company also helps businesses worldwide serve their customers better with mobility and highly secure cloud solutions.

With its shares trading at a very cheap 14.3 times estimated 2016 earnings, the company continues to expand its user base, and strong product introductions from smartphone vendors have not only driven traffic but increased device financing plans.

The company reported inline numbers for the second quarter, and while the consolidated revenue number was slightly higher than the Merrill Lynch estimate, the EBITDA was slightly below. Company management noted it is on track to meet or exceed current estimates for the year.

Many Wall Street analysts have cited the company’s positive commentary on free cash flow, in addition to improving video/broadband trends later this year, with single truck-roll and new converged offerings expected to be coming in October. The recent FCC initiative to open up the set-top business may be part of the reason the stock has been hit hard recently.

AT&T investors are paid a huge 4.85% dividend. The Merrill Lynch price target for the stock, which is on the firm’s US 1 list, is $46. The Wall Street consensus target is $42.84. Shares closed Friday at $39.71.

Coca-Cola

This company remains a top Warren Buffet holding and offers not only safety, but an incredible strong worldwide brand. Coca-Cola Co. (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands.

Led by Coca-Cola, its portfolio features 20 billion-dollar brands, including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade and Minute Maid. Globally, it is the top provider of sparkling beverages, ready-to-drink coffees and juices and juice drinks. Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy its beverages at a rate of more than 1.9 billion servings a day.

Despite reporting second-quarter earnings that came in above some estimates, slower growth and flat volumes brought out the sellers and they tagged Coke stock big time. It is important to remember though that the company owns 31.5% of Monster Beverage, which continues to deliver big numbers.

Coca-Cola investors receive a 3.31% dividend. Merrill Lynch has a $52 price target, well above the consensus price target of $47.76. The stock closed Friday at $42.27.

Eli Lilly

This top company remains a solid large cap pharmaceutical to Buy. Eli Lilly and Co. (NYSE: LLY) is a global health care company with numerous core products in a number of primary-care pharmaceutical markets. The company generates revenues from its pharmaceutical product and animal health segments.

The product portfolio includes Zyprexa (for schizophrenia and bipolar disorder), Gemzar (pancreatic cancer), Evista (osteoporosis), Cymbalta (depression), Cialis (erectile dysfunction), Strattera (attention deficit hyperactivity disorder), Erbitux (cancer) and Alimta (chemotherapy). Eli Lilly also has a strong presence in the diabetes market.

The company reported second-quarter results that beat the consensus numbers on the top and bottom lines and reiterated its full-year guidance.

Shareholders are paid a 2.61% dividend. The $108 Merrill Lynch price target is well above the consensus price target of $96.70 and Friday’s close at $78.24.

Procter & Gamble

This stock broke out nicely in June, in part because it has a very large 65% of sales directed to foreign customers, which should improve as the dollar’s run has slowed dramatically. Procter & Gamble Co. (NYSE: PG) is a solid consumer staples stock for conservative investors to consider.

The company sells lots of very well-known household items that are essential for everyday life, and it operates through five segments: Beauty, Hair and Personal Care; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.

The company posted solid earnings last quarter, and many on Wall Street feel that the new focus on a slimmed down product portfolio will help spur earnings growth and return the company to its long-time premium consumer staples multiple. Some analyst estimates for the next two years are 2% above current Wall Street expectations.

Shareholders are paid a solid 3.11% dividend. Merrill Lynch has a $95 price target. The consensus price objective is a touch lower at $92.38. The stock ended last week at $86.24 per share.

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Nothing real exciting here, just companies that have been around forever, and regardless of politics, macro changes and headlines, will be around for the foreseeable future. These stocks are perfect fits for conservative growth and income portfolios, especially for those concerned about a steeper market correction.

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