In this article, we discuss the 10 dividend stocks picks of billionaire Mario Gabelli based on Q3 holdings of the fund. If you want to skip our detailed analysis of Gabelli’s history, investment philosophy, and hedge fund performance, go directly to the 5 Dividend Stock Picks of Billionaire Mario Gabelli.
Billionaire Mario Joseph Gabelli graduated from Fordham University’s College of Business Administration in 1965 with a summa cum laude. He founded GAMCO Investors, formerly known as Gabelli Asset Management Company, an investment hedge fund based in Rye, New York.
The hedge fund’s investment advice and brokerage services are available to mutual funds, institutional investors, and a selected group of clients.
Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Wells Fargo & Company (NYSE:WFC) were among the top equities in GAMCO Investors’ portfolio in the third quarter of 2021.
GAMCO Investors, Mario Gabelli
Here is a list of 10 dividend stock picks of billionaire Mario Gabelli. We used Gabelli’s 13F portfolio for Q3 2021 for this analysis.
Dividend Stock Picks of Billionaire Mario Gabelli
10. BCE Inc. (NYSE:BCE)
Number of Hedge Fund Holders: 15
Dividend Yield: 5.29%
BCE Inc. (NYSE:BCE) is a telecommunications and media firm that provides residential, corporate, and wholesale clients with communication services. In November, BCE Inc. (NYSE:BCE) declared a quarterly dividend of CAD 0.875 per share, in line with the previous.
Desjardins analyst Jerome Dubreuil boosted BCE Inc.’s (NYSE:BCE) price objective to C$66 from C$64 in November and maintained a “Hold” rating on the stock. BCE Inc. (NYSE:BCE) third-quarter earnings report shows revenue of C$5.84 billion, up 0.9% YoY, below the estimates by C$100 million.
Hedge fund sentiment increased for BCE Inc. (NYSE:BCE) in the third quarter of 2021. Insider Monkey’s data shows that 15 hedge funds held stakes in the company at the end of the third quarter, up from 14 funds a quarter earlier.
Just like Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Wells Fargo & Company (NYSE:WFC), BCE Inc. (NYSE:BCE) is one of the stocks gaining the attention of billionaire Mario Gabelli.
9. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 64
Dividend Yield: 5.65%
Exxon Mobil Corporation (NYSE:XOM) is a multinational oil and gas company. In November, Exxon Mobil Corporation (NYSE:XOM) and privately held biotech startup Viridos struck a cooperative research agreement to commercialize their low-carbon biofuels concepts.
Exxon Mobil Corporation (NYSE:XOM) was downgraded to “Sell” from “Hold” in November by Truist analyst Neal Dingmann, with a price target of $50, down from $66. According to Dingmann while the firm is transitioning to a more energy-efficient model, it got off to a late start and isn’t making much progress.
There were 64 hedge funds in our database that held stakes in Exxon Mobil Corporation (NYSE:XOM) at the end of the third quarter of 2021, compared to 68 funds in the previous quarter. GQG Partners is Exxon Mobil Corporation’s (NYSE:XOM) most significant stakeholder, with 26.59 million shares worth $1.56 billion.
8. Redwood Trust, Inc. (NYSE:RWT)
Number of Hedge Fund Holders: 15
Dividend Yield: 6.22%
Redwood Trust, Inc. (NYSE:RWT) is a financial firm specializing in many different aspects of home financing. Mario Gabelli first bought 12,000 shares in Redwood Trust, Inc. (NYSE:RWT) back in the second quarter of 2013. GAMCO Investors currently owns 188,584 shares of the company worth $2.43 million.
In November, Wells Fargo analyst Donald Fandetti initiated coverage of Redwood Trust, Inc. (NYSE:RWT) with an “Equal Weight” rating and gave a price target of $14. According to the analyst, Redwood Trust, Inc. (NYSE:RWT) is a significant player in the non-agency residential mortgage business and expects continued dividend growth.
In the third quarter of 2021, 15 hedge funds in Insider Monkey’s database of 867 funds held stakes in Redwood Trust, Inc. (NYSE:RWT) compared to 12 funds in the preceding quarter. The all-time high for this statistic is 22.
7. Vodafone Group Public Limited Company (NASDAQ:VOD)
Number of Hedge Fund Holders: 18
Dividend Yield: 6.73%
Vodafone Group Public Limited Company (NASDAQ:VOD) is a telecommunications company that operates in Europe and worldwide. In November, UBS analyst Polo Tang raised his price target on Vodafone Group Public Limited Company (NASDAQ:VOD) to 188 GBp from 187 GBp and maintained a “Buy” rating on the shares.
In the third quarter, Mario Gabelli increased his stake in Vodafone Group Public Limited Company (NASDAQ:VOD) by 8%, and his stake in the company is now worth about $624,000. In addition, Vodafone Group Public Limited Company (NASDAQ:VOD) declared a EUR 0.045 per share semi-annual dividend in November, in line with the previous.
Our data on 867 hedge funds shows that in the third quarter of 2021, 18 hedge funds held stakes in Vodafone Group Public Limited Company (NASDAQ:VOD) worth $613.77 million. In the previous quarter, 17 hedge funds had stakes in the company worth $703.24 million.
6. AllianceBernstein Holding L.P. (NYSE:AB)
Number of Hedge Fund Holders: 8
Dividend Yield: 6.77%
Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital is the leading shareholder of AllianceBernstein Holding L.P. (NYSE:AB), with 453,716 shares worth $22.50 million.
For the fiscal third quarter of 2021, AllianceBernstein Holding L.P. (NYSE:AB) reported an EPS of $0.89, beating the estimates by $0.03. The company’s revenue was $1.09 billion, up 21.1% year over year. AllianceBernstein Holding L.P. (NYSE:AB) also announced a quarterly dividend of $0.89 per share, down from $0.91 per share the prior quarter.
AllianceBernstein Holding L.P. (NYSE:AB) recently saw a decrease in hedge fund sentiment. The number of long hedge fund positions declined to 8 in the third quarter of 2021 compared to 9 positions in the previous quarter.
Like Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Wells Fargo & Company (NYSE:WFC), AllianceBernstein Holding L.P. (NYSE:AB) is a notable stock in Gabelli’s Q3 portfolio.
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Disclosure: None. 10 Dividend Stock Picks of Billionaire Mario Gabelli is originally published on Insider Monkey.
