5 Best Dividend Stocks to Buy According to Thomas Bailard’s Hedge Fund

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Bailard Inc.’s Stake Value: $18,740,000

QUALCOMM Incorporated (NASDAQ:QCOM) is an American multinational company that manufactures semiconductors and software and also provides services related to wireless technologies. In Q2 2022, Bailard Inc. owned 146,708 shares in the company, boosting its position by 20% during the quarter. The fund’s total QCOM stake amounted to over $18.7 million, which represented 0.73% of its 13F portfolio.

QUALCOMM Incorporated (NASDAQ:QCOM) has been consistently paying dividends to shareholders since 2003 and raised its payouts at a CAGR of 6% in the last five years. Currently, it pays a quarterly dividend of $0.75 per share, with a dividend yield of 2.27%, as recorded on August 31.

In July, Mizuho raised its price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $175 with a Buy rating on the shares, calling the stock a buying opportunity.

As per Insider Monkey’s Q2 2022 database, 71 hedge funds owned $2.8 billion worth of stakes in QUALCOMM Incorporated (NASDAQ:QCOM). In the previous quarter, 73 hedge funds had positions in the company, with stakes valued at over $3.5 billion.