Today's market is not the one you inherited many years ago; this is entirely different. With giants like BlackRock (NYSE: BLK) and The Goldman Sachs Group (NYSE: GS) guiding their own ships toward a mix of yield and liquidity and away from what seems to be overvalued stocks, you, too, can adjust accordingly.

Today's focus is finding stocks that can offer a high dividend yield, preferably above the near 5.0% from the treasury bonds. Ideally, these higher yields still carry some of the low-risk nature of bonds, with a bit of the upside appreciation potential of stocks.

Using tools like MarketBeat's stock screening tool can help you find - and filter - through some of these stocks offering a high yield; however, the homework has been done to bring you a list of stable yields with some added upside on top.

Icahn Enterprises

Everyone knows about Carl Icahn, often called the most feared man on Wall Street because of his ruthless activist strategies. Little do these people know, he runs Icahn Enterprises (NASDAQ: IEP), a holding company enabling the everyday investor to ride the benefits of his system.

Because the fund's strategies rely on heavy financing to make its acquisitions, it is negatively correlated (moves in the opposite direction) to bond yields or other interest rate benchmarks. As the FED has been hiking rates and pointing to keeping them higher for longer, you can imagine what happened to this stock.

On a year-to-date basis, Icahn has declined by as much as 65.4%, underperforming the market by 78.4%. While this may seem scary today, it is helpful to understand that once interest rates come down in the next cycle wave, the opposite will be valid for the stock's performance.

Understanding that the fund has significant exposure to real estate, the automotive sector, and energy names can make it clear why the fund's value has declined by so much. These sectors are being severely undervalued in today's market, increasing the potential upside swings when things inevitably turn.

Considering that, as of the second quarter of 2023, the fund counted with $6.5 billion of total liquidity, shareholder benefits seem safer than ever. The fund's market capitalization at these prices is roughly $7.0 billion, making this liquidity a massive amount of 'dry powder.'

As the holdings keep pumping out free cash flow to the fund, shareholders will likely keep receiving their quarterly dividend payout of $2.0 a share, making for an annual dividend yield of - drum roll, please... 22.4%!

Analysts share this lack of concern with their $27.0 price target, which requires a rally of up to 51.2%. Bottoming prices, high yield, and all the upside: Those bonds don't look so hot now, do they?

Altria Group

If the potential price swings in Icahn are too much for your stomach to handle without reaching for the Tums pack, then this stock may be a better choice for you. With a still highly competitive annual dividend yield of 9.1%, Altria Group (NYSE: MO) is a great way to diversify some of the volatility.

Despite reaching and remaining near a 52-week low price, this company still could increase its quarterly dividend payout to $0.98 a share. This bump represents a 4.3% increase from a year prior, enough to beat inflation and instill further confidence.

Can these dividends be relied upon? Well, looking at the company's financials may have the answer. Boasting a gross margin steadily above 65%, this business has plenty of room to maneuver today's - and tomorrow's - environments.

Regarding the bottom line, Altria has achieved a steady and impressive net income margin of roughly 25% over the past five years. With this remaining cash, management is doing the right thing by showcasing their skills as great allocators.

With an ROIC (return on invested capital) rate hovering around 25-30%, long-term compounding returns will also be on your side. The catch? There doesn't seem to be one so far; you could lock in the dividend rate today while still enjoying the extra compounding effects.

Petrobras 

Jumping over to international markets, which have by far the least attention drawn in today's uncertain market conditions, this stock offers all the signs of undervaluation at a mouth-watering dividend yield.

Petroleo Brasileiro S.A. (NYSE: PBR) is a Brazilian energy company, in fact, one of the biggest in the country. With a historically strong dollar, these ADRs (American depository receipts) add an extra layer of upside.

Suppose your view on the economy - and thus the dollar - is bearish. In that case, the exchange rate will make this stock worth much more with a hypothetically falling dollar.

While analysts - just like broader markets - lack any sort of excitement around this name, there are still reasons to get excited beyond the prospect of an improved exchange rate.

Today's stock is offering you a 21.8% dividend yield; just how stable and reliable this one is becomes the main question to tackle.

Well, the financials again speak for themselves; with a gross margin of 48-50%, this company clearly showcases its entrenched relationships with the government and its pricing power.

Net income margins have also shown to be strong industry-leading, with an average rate of 25% over the past five years. With all the retained earnings the business generates, the free cash flow is more than enough to afford the dividend payments.

So don't be fooled by the lack of analyst bullishness; this stock can give you the yield you need alongside the upside to cushion through a domestic market slowdown.