“It’s different this time.” It is a phrase uttered every single time nobody can explain how markets can rally past the point of good reason, and at this juncture, they clearly have. Almost eight years into a bull market, with multiples at among the highest levels ever, and many strategists claiming the market has even higher to go, things are getting more than a little stretched. With inflation, higher interest rates and a host of potential volatility events around the corner, it makes sense now to play it safe.

Common sense would dictate looking for value stocks, but they outperformed growth last year, and growth appears to be the area to look at now. So with a pricey market, the place to look is for growth companies that are paying a big dividend. We screened the Merrill Lynch research database for stocks rated Buy with low to medium volatility risk that pay big dividends. We found five that check all the boxes.

AT&T

This company had an incredible run last year but is off over 5% since the beginning of this year. 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.

AT&T has several major catalysts likely to drive strong network traffic demand: DirecTV Now and Mobile, “Data-Free TV” for DirecTV/U-Verse subscribers and increasing penetration of unlimited data plans. Many on Wall Street believe that the company is well-positioned to address ongoing traffic requirements, with additional LTE capacity available and the ability to leverage small cell deployments.

The company posted fourth-quarter adjusted earnings per share in line with analyst expectations, though its revenue fell short of Thomson Reuters consensus estimates and also was a slight drop from sales during the year-earlier quarter.

AT&T investors receive a 4.77% dividend. The Merrill Lynch price objective for the stock is $46. The Wall Street consensus target price is $41.55. Shares closed Wednesday at $41.12.

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 2.4% dividend. Merrill Lynch has a $50 price target, and the consensus target is $47.23. Shares closed Wednesday at $44.00.

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 3.16% dividend. The $37 Merrill Lynch price objective compares with the posted consensus of $34.13. Shares closed at $30.35.

Kraft Heinz

This consumer staples stock makes sense for nervous investors. Kraft Heinz Co. (NYSE: KHC) is the third-largest food and beverage company in North America and the fifth-largest in the world, with eight $1 billion-plus brands. A globally trusted producer of delicious foods, Kraft Heinz provides high quality, great taste and nutrition for all eating occasions whether at home, in restaurants or on the go.

The company’s iconic brands include Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta.

Consumer staples are expected to continue to do well this year, and this is one of the top companies in the sector. The company just reported quarterly revenue that topped consensus estimates, though the fourth-quarter net sales were down 3.7% from net sales in the same period of last year. However, its net income increased and diluted earnings per share were also greater year over year.

Shareholders receive a 2.6% dividend. The Merrill Lynch price target is $100. The consensus target is $90.29, but the stock closed most recently at $91.09.

Procter & Gamble

The company’s stock jumped Wednesday as activist investor Norman Peltz’s Trian fund upped its stake in the shares to $3 billion. Procter & Gamble Co. (NYSE: PG) is another solid consumer staples stock for conservative investors to consider. It 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.

The Trian purchase makes it the 5th largest shareholder in the venerable company. It will be interesting to see what, if any, changes or recommendations are made. Generally the fund’s involvement in the past with large companies has been a positive one for shareholders.

Shareholders receive a 2.94% dividend. Merrill Lynch has set its price objective at $95, just above the $92.72 consensus target. The stock closed Wednesday at $91.12.

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Nothing exciting here, and that’s exactly the point. With low volatility ratings, big dividends and some growth potential, these companies are ideal for investors who want to own stocks that they can put in their portfolio and forget about.

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