5 Best Dow Jones Dividend Stocks that Hedge Funds Love

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

Number of Hedge Fund Holders: 104

JPMorgan Chase & Co. (NYSE:JPM) is a multinational investment banking company that offers financial services to its consumers. Citigroup mentioned the stock in its October investors’ note and said that JPM offers an ‘excellent entry point’ for long-term investors. The firm raised its price target on the stock to $135 with a Buy rating on the shares.

In its recently-announced Q3 earnings, JPMorgan Chase & Co. (NYSE:JPM) posted revenue of $32.7 billion, which showed a 10.4% growth from the same period last year. The company also reported a 9% growth in its average deposits. During the quarter, it returned $3 billion to shareholders through dividends, which shows that the company’s free cash flow is stable.

JPMorgan Chase & Co. (NYSE:JPM) is one of the best dividend stocks on our list as it maintains a seven-year streak of dividend growth. The company pays a quarterly dividend of $1.00 per share for a dividend yield of 3.26%, as of October 26.

At the end of Q2 2022, 104 hedge funds tracked by Insider Monkey owned stakes in JPMorgan Chase & Co. (NYSE:JPM), falling from 110 in the previous quarter. These stakes hold a combined value of over $5.8 billion, compared with $5 billion worth of stakes owned by hedge funds in the previous quarter.