In this article, we discuss 5 best technology dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and the tech sector, go directly to read 11 Best Technology Dividend Stocks to Buy.
5. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 72
Broadcom Inc. (NASDAQ:AVGO) is a global tech company that specializes in designing and manufacturing semiconductor devices and infrastructure software. It is one of the best dividend stocks on our list as the company has been growing its dividends for 12 consecutive years. The company currently pays a quarterly dividend of $4.60 per share and has a dividend yield of 2.10%, as of October 19.
At the end of Q2 2023, 72 hedge funds in Insider Monkey’s database reported having stakes in Broadcom Inc. (NASDAQ:AVGO), worth collectively nearly $4.2 billion.
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4. QUALCOMM Incorporated (NASDAQ:QCOM)
Number of Hedge Fund Holders: 73
QUALCOMM Incorporated (NASDAQ:QCOM) is a multinational tech company that focuses on developing and providing wireless technology solutions and semiconductor products. The company’s dividend growth streak stands at 19 years, which makes it one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.80 per share and has a dividend yield of 2.84%, as of October 19.
The number of hedge funds tracked by Insider Monkey owning stakes in QUALCOMM Incorporated (NASDAQ:QCOM) jumped to 73 in Q2 2023, from 69 in the previous quarter. The consolidated value of these stakes is over $2.3 billion.
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3. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders: 84
Oracle Corporation (NYSE:ORCL) is next on our list of the best dividend stocks from the tech sector. The multinational computer technology company has been rewarding shareholders with growing dividends for eight years straight. The company offers a quarterly dividend of $.40 per share and its dividend yield on October 19 came in at 1.47%.
At the end of Q2 2023, 84 hedge funds in Insider Monkey’s database, up from 67 in the previous quarter, reported owning stakes in Oracle Corporation (NYSE:ORCL). The total value of these stakes is over $3.4 billion.
Harris Associates mentioned Oracle Corporation (NYSE:ORCL) in its Q3 2023 investor letter. Here is what the firm has to say:
“Oracle Corporation (NYSE:ORCL) (U.S.), a global software company, was the Fund’s top contributor for the fiscal year, with its share price rising primarily after reporting its fiscal fourth-quarter results. More recently, Oracle announced fiscal first-quarter results, which were in line with consensus expectations. The drivers of the core business are performing well, in our view, and management expressed confidence that annual revenue growth will accelerate as planned based on demand trajectory and its strong bookings trends. For the quarter, total revenue increased 8% in constant currency (9% reported), and operating income grew 12% with margins showing improvement. Cloud and support revenue grew 11% in constant currency, powered by Fusion +20% and Netsuite +21%. The “strategic back office cloud” is now up to $6.9 billion in run-rate revenue. Infrastructure cloud and support revenue grew 14% in constant currency, powered by infrastructure cloud services +72% ex-legacy hosting services to $5.6 billion in run-rate revenue. Momentum is continuing to build as Oracle signed several deals for its cloud business greater than $1 billion in total value during the quarter and booked an additional $1.5 billion in the first week of the second quarter. We continue to believe Oracle is an attractive holding and undervalued due to our perception of its intrinsic value.”
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2. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 131
An American multinational tech giant, Apple Inc. (NASDAQ:AAPL) has been growing its dividends for 11 consecutive years. In its most recent quarter, the company returned $24 billion to shareholders through dividends and share repurchases. The company pays a quarterly dividend of $0.24 per share and has a dividend yield of 0.55%, as of October 19.
Warren Buffett’s Berkshire Hathaway was the leading stakeholder of Apple Inc. (NASDAQ:AAPL) in the second quarter of 2023. Overall, 131 hedge funds in Insider Monkey’s database owned investments in the company, worth collectively over $194 billion.
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1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 300
Microsoft Corporation (NASDAQ:MSFT) tops our list of the best dividend stocks from the tech sector. The company has raised its dividends for 17 years in a row and currently pays a quarterly dividend of $0.75 per share. The stock has a dividend yield of 0.90%, as of October 19.
Microsoft Corporation (NASDAQ:MSFT) was the most famous stock among hedge funds at the end of Q2 2023 with 300 funds in Insider Monkey’s database owning stakes in it. The collective value of stakes owned by these hedge funds is roughly $70 billion.
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Follow Microsoft Corp (NASDAQ:MSFT)
You can also take a look at 12 Best Health Insurance Stocks to Buy and 11 Best Quantum Computing Stocks To Buy Now
