5 Best 5% Dividend Stocks To Buy According To Hedge Funds

2. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 69
Dividend Yield as of November 28: 5.00%

Intel Corporation (NASDAQ:INTC) is a multinational semiconductor company, based in California. Mizuho resumed its coverage of the stock with a Neutral rating and a $32 price target in November. The firm highlighted that the company is gaining market share in personal computers this year.

In the third quarter of 2022, Intel Corporation (NASDAQ:INTC) reported an EPS of $0.59, which beat estimates by $0.26. The company’s revenue for the quarter came in at $15.3 billion, which fell in line with the analysts’ consensus. For the next quarter, it expects its revenue to be between $14 billion to $15 billion.

Intel Corporation (NASDAQ:INTC) currently pays a quarterly dividend of $0.365 per share. The company has been raising its dividends consistently for the past seven years while maintaining a 28-year track record of dividend payments. The stock’s dividend yield on November 28 came in at 5.00%.

As of the end of the September quarter, 69 hedge funds owned stakes in Intel Corporation (NASDAQ:INTC), up from 65 in the previous quarter. These stakes have a total value of roughly $2 billion. With over 15 million shares, Two Sigma Advisors was one of the company’s leading stakeholders in Q3.

ClearBridge Investments mentioned Intel Corporation (NASDAQ:INTC) in its Q3 2022 investor letter. Here is what the firm has to say:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”