5 Best Dividend Stocks According to Tom Russo’s Gardner Russo & Gardner

In this article, we discuss 5 dividend stocks to buy according to Tom Russo’s Gardner Russo & Gardner. If you want to read the latest developments of the hedge fund and our detailed analysis of Russo’s investment philosophy, go directly to read 10 Best Dividend Stocks According to Tom Russo’s Gardner Russo & Gardner. 

5. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 72
Dividend Yield as of May 30: 2.46%
Gardner Russo & Gardner’s Stake Value: $5,863,000

The Procter & Gamble Company (NYSE:PG) saw a spike in hedge fund interest in Q1 2022, as 72 hedge funds tracked by Insider Monkey held stakes in the company, up from 67 in the previous quarter. The consolidated value of these stakes is over $6.06 billion. Rajiv Jain’s GQG Partners owned over $1.5 billion worth of stakes in the company, becoming its largest shareholder in Q1 2022.

In April, The Procter & Gamble Company (NYSE:PG) increased its quarterly dividend by 5% to $0.9133 per share. The company has been raising its dividend for the past 66 years and has been paying dividends consistently since 1890. As of May 30, the stock’s dividend yield was recorded at 2.46%.

At the end of Q1 2022, Gardner Russo & Gardner owned 38,372 shares in The Procter & Gamble Company (NYSE:PG), valued at roughly $6 million. The company represented 0.05% of Tom Russo’s portfolio. In April, Barclays raised its price target on The Procter & Gamble Company (NYSE:PG) to $176, with an Overweight rating on the shares, highlighting the company’s solid performance in Q1 2022.