5 Best Warren Buffett Dividend Stocks To Invest In Right Now

3. American Express Company (NYSE:AXP)

Warren Buffett’s Stake: $28,402,748,537

Berkshire owns a $28 billion stake in American Express Company (NYSE:AXP) as of the end of the last quarter of 2023. Last month, American Express Company (NYSE:AXP) announced a 17% increase in its dividends.

Artisan Select Equity Fund stated the following regarding American Express Company (NYSE:AXP) in its fourth quarter 2023 investor letter:

“Our top performers this quarter were American Express Company (NYSE:AXP), Expedia and Axalta. American Express saw a 26% share price gain. The business has performed well over the past year and over our holding period. While American Express’ long-term growth and attractive business model is well known and understood, the shares had been flat to down for most of the year on fears of a recession. In a recessionary environment, consumer spending slows, which impacts revenue, and credit costs go up as consumers have a harder time paying their bills. As fears about a recession receded in Q4, investors bid up American Express shares.”