5 Best Dividend Stocks to Buy According to Israel Englander’s Millennium Management

4. JPMorgan Chase & Co. (NYSE:JPM)

Millennium Management’s Stake Value: $298,641,000

In Q2 2022, Millennium Management’s stake in JPM grew by $128 million in value, as the fund boosted its position in the company by 113%. The fund’s total stake in the company amounted to nearly $300 million, which represented 0.18% of Israel Englander’s portfolio.

JPMorgan Chase & Co. (NYSE:JPM) currently pays a quarterly dividend of $1.00 per share, with the stock currently yielding 3.48%, as recorded on August 26. The company has been raising its dividends consistently for the past 11 years.

As of the end of June 2022, 104 hedge funds tracked by Insider Monkey reported owning stakes in JPMorgan Chase & Co. (NYSE:JPM), compared with 110 in the previous quarter. The collective value of these stakes was over $5.8 billion.

Carillon Tower Advisers mentioned JPMorgan Chase & Co. (NYSE:JPM) in its Q1 2022 investor letter. Here is what the firm had to say:

“More cyclical sectors, including technology and consumer discretionary, were among the weakest, likely due to rising interest rates and inflation. It was encouraging to see the quarter finish on a strong note with the S&P 500 only about 5% away from its all-time highs. Shares of JPMorgan Chase (NYSE:JPM) detracted from performance due to the company’s increased expense guidance, announced in January.”