In this article we discuss the 5 best dividend stocks to buy according to billionaire Philippe Laffont. If you want to read our detailed analysis of Laffont’s history and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to Billionaire Philippe Laffont.
5. Broadcom Inc. (NASDAQ: AVGO)
Percent of Philippe Laffont’s 13F Portfolio: 0.61%
No. of Hedge Fund Holders: 59
Dividend Yield: 3.16%
Broadcom Inc. (NASDAQ: AVGO) has a strong presence in the semiconductor industry. Its products are used in multiple industrial segments, including industrial markets, storage, wireless technology, broadband, software, networking, and data centers.
Ecommerce giant Amazon is reportedly developing its chip for its networking solutions, and the decision is based on its need to rely less on expensive networking components from companies like Broadcom and Cisco. Despite this shift, Broadcom is still one of the best dividend stocks to buy, considering its strategic position in an industry with a lot of demand for semiconductors.
Broadcom announced that there was healthy early participation in its $5 billion private note offer. $2 billion of the new notes are due in 2033, while the remaining $3 billion worth of notes are due in 2034. The company has 3.125% senior notes due in 2025, which are currently in pool 1’s top acceptance priority. It also has 4.7% senior notes that will be due in 2025. Broadcom Inc. latest financials revealed that its long-term debt is slightly more than $41 billion while its cash and cash equivalents amount to $9.55 billion.