5 Best Dividend Stocks with Upside Potential

4. JP Morgan Chase and Co. (NYSE:JPM)

No of HFs: 118

Total Value of HF Holdings: $6.05 Billion

Amazon-Berkshire-JPMorgan venture, Haven recently reported having been disbanded after three years. The move was after the step down of Haven’s CEO Dr. Atul Gawande. Although the shut down was a disappointment, the haven team mentioned that Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally

“The Haven team made good progress exploring a wide range of healthcare solutions, as well as piloting new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable, Moving forward, Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally to design programs tailored to address the specific needs of our individual employee populations and locations,”

The top hedge fund holder of this stock is Andreas Halvorsen’s Viking Global which had $909 million invested in the stock at the end of September. An insider recently purchased 75,000 shares at around $87. The stock has been up 43% since then. JPM offers a 2.65% annual dividend yield.

Check out our article where VLTAVA Fund mentioned a few comments on the stock,

“In the quarter just ended, we bought shares of the JP Morgan. In our opinion, among all the world’s large banks, this one is the best managed and financially strongest. It did very well already in the recession of 2008, when it remained profitable and did not require government help. This made it exceptional among large banks, and we may say that this was the year when it stood out most despite the fact that, from the profitability viewpoint, it was the worst year for JP Morgan of the whole previous economic cycle. The worst year of this economic cycle clearly will be 2020. Profits will drop substantially, mainly due to large increase in bad loans. Despite this, JP Morgan should earn a lot of money this year and its strength and quality will again come to the fore. The shares of good banks can be very remunerative long-term “compounders”, and the best time to buy them is usually in times of recession.”

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