In this article, we will be taking a look at the 5 best dividend stocks hedge funds are buying. To read our detailed analysis of dividend investing, you can go directly to see the 10 Best Dividend Stocks Hedge Funds are Buying.
5. International Business Machines Corporation (NYSE: IBM)
Number of Hedge Fund Holders: 41
Dividend Yield: 4.6%
International Business Machines Corporation (NYSE: IBM), a computer hardware company, is next on our list of the best dividend stocks hedge funds are buying. The company is US-based and operates globally, with headquarters in New York and operations in more than 171 countries. It ranks 5th on our list.
Jim Suva, an analyst at Citigroup, raised his price target on shares of International Business Machines Corporation (NYSE: IBM) from $140 to $150 this July. Suva also reiterated a Hold rating on the shares at the same time.
In the second quarter of 2021, International Business Machines Corporation (NYSE: IBM) had an EPS of $2.33, beating estimates by $0.04. The company’s revenue was $18.75 billion, up 3.43% year over year and beating estimates by $447.50 million. International Business Machines Corporation (NYSE: IBM) has gained 17.21% in the past 6 months and 12.53% year to date.
By the end of the second quarter of 2021, 41 hedge funds out of the 873 tracked by Insider Monkey held stakes in International Business Machines Corporation (NYSE: IBM) worth roughly $1.4 billion. This is compared to 41 hedge funds in the previous quarter with a total stake value of approximately $1.4 billion.
4. Chevron Corporation (NYSE: CVX)
Number of Hedge Fund Holders: 50
Dividend Yield: 5.3%
Chevron Corporation (NYSE: CVX), an energy industry company, is next on our list of the best dividend stocks hedge funds are buying. The company is based in the US and operates across the globe as an energy corporation, and is active in over 180 countries.
As of this July, Redburn holds a Buy rating on shares of Chevron Corporation (NYSE: CVX), after an upgrade from the firm’s previous Neutral rating.
In the second quarter of 2021, Chevron Corporation (NYSE: CVX) had an EPS of $1.71, beating estimates by $0.11. The company’s revenue was $37.6 billion, up 178.62% year over year and beating estimates by $1.15 billion. Chevron Corporation (NYSE: CVX) has gained 0.94% in the past 6 months and 14.15% year to date.
By the end of the second quarter of 2021, 50 hedge funds out of the 873 tracked by Insider Monkey held stakes in Chevron Corporation (NYSE: CVX) worth roughly $4.3 billion. This is compared to 41 hedge funds in the previous quarter with a total stake value of approximately $4.9 billion.
3. Exxon Mobil Corporation (NYSE: XOM)
Number of Hedge Fund Holders: 68
Dividend Yield: 6.2%
Exxon Mobil Corporation (NYSE: XOM), a US-based multinational oil and gas corporation, ranks 3rd on our list of the best dividend stocks hedge funds are buying. The company is often stylized as ExxonMobil, and is based in Texas.
Phillip Jungwirth, an analyst at BMO Capital, holds a Market Perform rating on shares of Exxon Mobil Corporation (NYSE: XOM) as of this July. The analyst also set a $69 price target on the shares.
In the second quarter of 2021, Exxon Mobil Corporation (NYSE: XOM) had an EPS of $1.10, beating estimates by $0.11. The company’s revenue was $67.74 billion, up 107.77% year over year and beating estimates by $3.02 billion. Exxon Mobil Corporation (NYSE: XOM) has gained 3.86% in the past 6 months and 31.06% year to date.
By the end of the second quarter of 2021, 68 hedge funds out of the 873 tracked by Insider Monkey held stakes in Exxon Mobil Corporation (NYSE: XOM) worth roughly $3.7 billion. This is compared to 65 hedge funds in the previous quarter with a total stake value of approximately $2.8 billion.
2. AT&T Inc. (NYSE: T)
Number of Hedge Fund Holders: 68
Dividend Yield: 7.4%
AT&T Inc. (NYSE: T), a US-based telecommunications company, is next on our list of the best dividend stocks that hedge funds are buying, and ranks 2nd. The company is the largest of its kinds in the world, and also the largest mobile telephone services provider operating in America.
Kutgun Maral, an analyst at RBC Capital, this July took over coverage of AT&T Inc. (NYSE: T) shares with a Sector Perform rating. The analyst also placed a $30 price target on the stock.
In the second quarter of 2021, AT&T Inc. (NYSE: T) had an EPS of $0.89, beating estimates by $0.09. The company’s revenue was $44.05 billion, up 7.56% year over year and beating estimates by $1.32 billion.
By the end of the second quarter of 2021, 68 hedge funds out of the 873 tracked by Insider Monkey held stakes in AT&T Inc. (NYSE: T) worth roughly $2.9 billion. This is compared to 63 hedge funds in the previous quarter with a total stake value of approximately $2.7 billion.
1. AbbVie Inc. (NYSE: ABBV)
Number of Hedge Fund Holders: 82
Dividend Yield: 4.4%
AbbVie Inc. (NYSE: ABBV) is a US-based publicly traded healthcare and biopharmaceuticals company. It ranks 1st on our list of the best dividend stocks hedge funds are buying and came about as a spin-off company of Abbott Laboratories.
Barclays analyst Carter Gould this August raised the price target on shares of AbbVie Inc. (NYSE: ABBV) from $105 to $112. The analyst also holds an Equal Weight rating on the stock.
In the second quarter of 2021, AbbVie Inc. (NYSE: ABBV) had an EPS of $3.11, beating estimates by $0.08. The company’s revenue was $13.96 billion, up 33.90% year over year and beating estimates by $322.64 million. AbbVie Inc. (NYSE: ABBV) has gained 11.69% in the past 6 months and 11.27% year to date.
By the end of the second quarter of 2021, 82 hedge funds out of the 873 tracked by Insider Monkey held stakes in AbbVie Inc. (NYSE: ABBV) worth roughly $5.4 billion. This is compared to 72 hedge funds in the previous quarter with a total stake value of approximately $5.9 billion.
You can also take a look at 25 Countries That Have The Most Debt Per Capita and 10 Best Monthly Dividend Stocks in 2021.
