5 Best Debt Free Dividend Stocks to Buy

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In this article, we will take a look at the 5 best debt free dividend stocks to buy. To read our analysis of the recent trends, and market activity, you can go to the 10 Best Debt Free Dividend Stocks to Buy.

5. Garmin Ltd. (NASDAQ:GRMN)

Number of Hedge Fund Holders: 23

Dividend Yield as of April 19: 2.94%

Based in Olathe, Kansas, Garmin Ltd. (NASDAQ:GRMN) is a technology company focused on wireless devices. Its portfolio serves five primary markets: fitness, outdoor, aviation, marine, and auto, and includes hand-held, wearable, portable, and fixed-mount GPS-enabled products and other navigation, communications, sensor-based and information products.

On February 22, Garmin Ltd. (NASDAQ:GRMN) reported the financial results for Q4 2022. The company had a strong quarterly performance with $1.3 billion revenues and $293 million in net income. It currently pays a quarterly dividend of $0.73 per share which translates to a dividend yield of 2.94% as of April 19.

According to the Insider Monkey data on 943 leading hedge funds, 23 hedge funds were long Garmin Ltd. (NASDAQ:GRMN) shares as of Q4 2022, with the total shares held by hedge funds valued at $449 million. Robert Joseph Caruso’s Select Equity Group was the largest shareholder on record with ownership of 0.9 million shares valued at $83 million. The hedge fund increased its shareholding in the company by 41% during the quarter.

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