A Look At Billionaire Julian Robertson’s Top Dividend Picks

#4 IAC/InterActiveCorp (NASDAQ:IACI)

– Shares Owned by Tiger Management (as of September 30): 232,300

– Value of Holding (as of September 30): $15.16 Million

IAC/InterActiveCorp (NASDAQ:IACI) is among the few internet and tech companies that consistently pays quarterly dividends to its shareholders (its stock’s annual dividend yield stands at 2.32%). Shares of the company exhibited a classical inverted-V shaped pattern in 2015, ending the year flat after reaching their lifetime high in July. Amid a 17.8% decline of the stock during the third quarter, Tiger Management reduced its stake in the company by 25%. However, other billionaire investors seem to be more bullish on the company as the ownership of IAC/InterActiveCorp (NASDAQ:IACI) among billionaire investors covered by Insider Monkey jumped by two to eight during the third quarter.

Currently the company trades at a forward price to earnings multiple of 17.37 and price to book multiple of 2.70, which is considerably cheaper than most of its industry peers. IAC/InterActiveCorp is expected to report its fourth-quarter earnings on February 1 and analysts forecast EPS of $0.93 on revenue of $864.87 million, compared to EPS of $0.95 on revenue of $830.80 million that it had reported for the same quarter last year.

On December 21, analysts at Barclays reiterated their ‘Overweight’ rating on IAC/InterActiveCorp’s stock, but lowered their price target on it to $82 from $93, which represents a potential upside of over 35% from the stock’s current trading price. Dan Loeb‘s Third Point reduced its stake in IAC/InterActiveCorp by 10% to 2.5 million shares during the third quarter, but still continued to remain the largest shareholder of the company among the funds tracked by Insider Monkey at the end of September.