5 Best Large Cap Dividend Stocks to Buy According to Hedge Funds

4. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Fund Holders: 127
Dividend Yield: 0.6%

Apple Inc. (NASDAQ: AAPL) is an information technology company renowned for its successful iPhone and Mac product lines. It manufactures and markets smartphones, computers, tablets, wearables, and accessories across the globe, and ranks 4th on our list of the best large cap dividend stocks to buy according to hedge funds.

This July, UBS analyst David Vogt raised the price target on Apple Inc. (NASDAQ: AAPL) shares to $166, reiterating a Buy rating as well. Vogt has also raised his Q3 EPS and revenue estimates for Apple Inc. (NASDAQ: AAPL) to $1.01 and $74.7 billion respectively.

In the fiscal second quarter of 2021, Apple Inc. (NASDAQ: AAPL) had an EPS of $1.40, beating estimates by $0.41, and its revenue was $89.58 billion, up 53.63% year over year and beating estimates by $12.30 billion. Apple Inc. (NASDAQ: AAPL) has also gained about 6.78% in the past 6 months and 12.94% year to date.

By the end of the first quarter of 2021, 127 hedge funds out of the 866 tracked by Insider Monkey held stakes in Apple Inc. (NASDAQ: AAPL) worth roughly $130.9 billion. This is compared to 146 hedge funds in the previous quarter with stakes worth approximately $142 billion.