Even though the stock market has rallied for almost eight years without any serious downturns, many of the Wall Street pundits say it can go higher, much higher. Why? Because Wall Street has a very hard time selling things while simultaneously touting a scenario in which perhaps the market corrects to take out some of the excess. With that in mind, what makes sense for investors now?

One thing to do for investors who are not trying to time the market but keep a long-term view is to rotate out of expensive overbought stocks to those that offer more value and dividends. We screened the Merrill Lynch research universe and found five mega-cap companies that fit the bill perfectly, and all are rated Buy at Merrill Lynch.

Abbott Laboratories

Shares of this top pharmaceutical stock with very solid growth potential are down over 15% since last August. Abbott Laboratories (NYSE: ABT) is a leading diversified global health care company that develops, manufactures and markets branded generics, medical devices, nutritional products and diagnostic solutions.

The company recently agreed to acquire the equity in Minnesota-based Tendyne Holdings that it does not already own for $250 million plus future payments tied to regulatory milestones. Wall Street likes the purchase and the way the company is putting its substantial balance sheet to work.

The company also offers a diversified large cap play as earnings are split between five well-positioned business segments: Nutritionals (31.0% of revenues), Vascular (13.0%), Generic Pharmaceuticals (20.0%) and Diagnostics (25.5%) and Diabetes (10.5%).

Last year, CEO Miles White, who has been at the firm for over three decades, bought a stunning $45.5 million worth of company stock, which added to his already substantial holdings. The purchase made him one of the top 100 shareholders.

Abbott Labs investors receive a 2.5% dividend. The Merrill Lynch price target for the stock is$50, and the Wall Street consensus target is $47.23. The shares closed Wednesday at $42.40.

Coca-Cola

This company remains a top Warren Buffet holding and offers not only safety, but an incredibly 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.

When the company reported fourth-quarter earnings it said revenue had dropped from in the comparable quarter a year earlier. However, results were basically in line with the consensus estimates from Thomson Reuters.

It is important to remember that Coca-Cola owns 31.5% of Monster Beverage, which continues to deliver big numbers.

Coca-Cola investors receive a 3.3% dividend. Merrill Lynch has a $50 price target, while the consensus target is $46.72. Shares closed Wednesday at $43.02.

General Electric

This iconic blue chip industrial was on a strong roll after the election, but it rolled over in December and is offering a great entry point. General Electric Co. (NYSE: GE) is a highly diversified, global industrial corporation. Its businesses are organized broadly under six segments: GE Capital, Energy Infrastructure, Aviation, Healthcare, Transportation and Home & Business Solutions. Its products and services include power generation equipment, aircraft engines, locomotives, medical equipment, appliances, commercial leasing and personal finance.

The company recently announced a huge deal to combine GE’s Oil & Gas business and Baker Hughes to create a leader in oil and gas equipment, technology and services. It will have $32 billion in revenue and can leverage GE’s digital and technology expertise and Baker Hughes domain knowledge, capabilities and presence in oilfield services.

GE’s fourth-quarter earnings were in line with forecasts, but revenue fell short of the consensus estimate. The hope for a big infrastructure spend is a big positive for the company in 2017 and beyond.

GE investors receive a 3.27% dividend. The $37 Merrill Lynch price objective compares with the consensus target of $34.13. Shares closed most recently at $29.43.

Home Depot

This company remains the undisputed leader in the home improvement retail category. Home Depot Inc. (NYSE: HD) is the world’s largest home improvement specialty retailer, with 2,270 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.

Home Depot stores sell various building materials, home improvement products, and lawn and garden products, as well as provide installation, home maintenance and professional service programs to do-it-yourself (DIY), do-it-for-me (DIFM) and professional customers.

Home Depot could continue to be a benefactor from the huge ongoing rebuilding efforts in Louisiana after the severe flooding there last year and the recent widespread tornado damage.

Merrill Lynch is also very positive on the outlook for home renovation this year and beyond. The firm noted in a recent report:

Private fixed residential investment was the highest correlated factor and increased 5.3% in the fourth quarter of 2016 on a 14.5% increase in the fourth quarter of 2015. We are more bullish than ever on home improvement.

Investors are paid a 2.04% dividend, The $168 Merrill Lynch price target is well above the consensus target of $147.81 and Wednesday’s close at $137.88.

Verizon Communications

A top telecommunications pick at Merrill Lynch for 2017, Verizon Communications Inc. (NYSE: VZ) is a global leader in delivering the digital world. Verizon Wireless operates America’s self-described most reliable wireless network, with 109.5 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and it delivers integrated business solutions to customers worldwide.

Last year Verizon announced the purchase of Yahoo’s core operating business for $4.8 billion in cash, although terms may be changing due to the massive data breaches at the company. The analysts feel the purchase plays into Verizon’s strategic drive to expand into advertising and content, and they also think the transaction is largely immaterial from a financial perspective.

In addition the Yahoo purchase, recent chatter has linked that company with a possible pursuit of Charter Communications. Merrill Lynch sees the deal as potentially dilutive for free cash flow in the first year but positive in year two. Some see regulatory approval as difficult but possible.

Verizon investors receive a 4.77% dividend. The Merrill Lynch price objective is $59. The consensus target is $52.23. Shares closed Wednesday at $48.37.

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These five stocks pay solid distributions, are not trading at all-time highs and are rated Buy at Merrill Lynch. For investors seeking total return these all make good sense, and most importantly, should a big sell-off hit the market, these are not the kind of momentum stocks that will be sold first with questions asked later.

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