3 Dogs of the Dow to Buy Now If you are interested in some of the best Dogs of the Dow stocks to buy now, here are 3 standout names to consider:

There's no such thing as a "one-size-fits-all" strategy that works for all investors, which is why it's important to explore a few different options to pick and choose what works best for your individual personality. One stock picking strategy that stands out for investors who are interested in a more conservative way to generate returns is the "Dogs of the Dow" approach. This strategy involves adding shares of the highest dividend yield stocks in the Dow Jones Industrial Average to take advantage of blue-chip companies that might be close to the bottom of their business cycles.

While the true strategy involves buying and holding 10 of the highest yield DJIA stocks at the start of the year, investors can also use a variation of this strategy to benefit from some of the concepts behind the Dogs of the Dow tactic. After all, it's hard to argue against adding high-yield stocks given the current inflation fears and the low-interest-rate environment.

If you are interested in some of the best Dogs of the Dow stocks to buy now, here are 3 standout names to consider:

International Business Machines (NYSE: IBM)

IBM is a blue-chip tech stock that offers great value at this time and could be closing in on a turning point for the future of its business, making it a top pick for DJIA investors. While the stock has been a major underperformer in the market over the last few months, its 4.78% dividend yield and forward P/E ratio of 12.79 are almost too good to pass up. IBM is a global technology company that provides hardware, software, and cloud-based offerings and seems to be heading in the right direction after delivering revenue of $18.7 billion in Q2, up 3% year-over-year. This marked the largest top-line jump in 12 quarters and could be a sign of better things to come as the company continues to grow its hybrid cloud business.

There's also a lot to like about the company's new CEO, Arvind Krishna, who is already making big moves. The company recently announced that it is going to spin-off its managed infrastructures unit into a new company, which should allow IBM to invest more into high growth areas of the business. With exposure to AI, rapidly growing cloud revenue, and a very reasonable valuation, this is one dog of the Dow that is looking very attractive at this time. The stock is currently trading around its 200-day moving average, which might be a smart entry point for dividend investors to consider.

Walgreens Boots Alliance (NASDAQ: WBA)

The next dog on our list is a stock that just reclaimed the 200-day moving average and another potentially undervalued member of the Dow Jones Industrial Average. Walgreens Boots Alliance is one of the largest pharmacies in the world, with over 21,000 stores located in over 25 countries. While the share price has likely been depressed due to increasing competition in the pharmacy space from companies like Amazon, there's still a lot to like about the company's long-term prospects.

Consider the investments that the company has made to open primary care clinics in its retail locations, which could be a nice complement to its existing business model. Investors should also keep in mind that the company's sale of its wholesale distribution business, Alliance Healthcare, will free up a ton of resources and allow Walgreens Boots Alliance to focus on growing its retail pharmacy segment. This stock is also a solid pick for dividend investors given its dividend aristocrat status, as the company has boosted its annual payout for 45 consecutive years. Walgreens Boots Alliance currently offers investors a 3.81% dividend yield, and if you are interested in a company that is focused on creating the premier destinations for healthcare services it's a solid pick to consider.

Cisco Systems (NASDAQ: CSCO)

Finally, Cisco Systems is another intriguing dog of the Dow worth adding at this time given how the company is nicely positioned to benefit from trends like the growth of 5G networks and the rise of cloud computing. As the world's largest hardware and software supplier within the networking solutions sector, Cisco plays a key role in keeping enterprises connected and has plenty of earnings upside as many businesses find themselves in need of hardware for access points, routing, and more. Cisco has also been making quite a few acquisitions over the past few years, including cloud communications software company IMImobile and cybersecurity company Duo Security, which could significantly strengthen its offerings.

Cisco just had its investor day and estimates that it will generate roughly half of its revenue from software and other recurring sales, which means the company's dividend should be well supported for years to come. It's also worth mentioning that the company provided an FY 25 revenue forecast with a midpoint of $62.9 billion, which means the company expects a CAGR of 5%-7% over the next few years. Finally, a dividend yield of 2.57% makes this stock one of the best values in the tech sector at this time.