5 Best Dow Jones Dividend Stocks According to Hedge Funds

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 135

Apple Inc. (NASDAQ:AAPL) is an American multinational tech giant, based in California. The company manufactures a wide range of computer gadgets and accessories. It is one of the best dividend stocks on our list as it was a part of 135 hedge funds in Q4 2022, as per Insider Monkey’s database. The stakes owned by these funds have a total value of over $136 billion.

On February 2, Apple Inc. (NASDAQ:AAPL) declared a quarterly dividend of $0.23 per share, which was consistent with its previous dividend. The company maintains a nine-year streak of consistent dividend growth. The stock’s dividend yield came in at 0.58% on March 29.

Distillate Capital mentioned Apple Inc. (NASDAQ:AAPL) in its Q4 2022 investor letter. Here is what the firm has to say:

“The largest new purchase was Apple Inc. (NASDAQ:AAPL), which after underperforming saw its valuation improve significantly. Over the course of the last year, Apple’s consensus estimated forward free cash flows rose modestly, while its enterprise value fell by around 30%. Apple ranks below the 25th most attractive name in the portfolio and so its weight is capped at 4% vs. 6% for names in the top quartile.”