5 Best Passive Income Stocks To Buy According to Hedge Funds

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 91

Broadcom Inc. (NASDAQ:AVGO) is next on our list of the best dividend stocks for passive income. The global semiconductor company has been growing its dividends for the past 13 years and currently offers a quarterly dividend of $5.25 per share. During the first quarter of 2024, the company returned $2.4 billion to shareholders through dividends. As of March 20, the stock has a dividend yield of 1.65%.

According to Insider Monkey’s database of Q4 2023, 91 hedge funds held stakes in Broadcom Inc. (NASDAQ:AVGO), up from 87 in the previous quarter. The total value of these stakes is over $8.8 billion.

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