5 Dividend Stock Picks of Late Billionaire Michael Price’s MFP Investors

3. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 76
Dividend Yield as of May 25: 3.50%
MFP Investors’ Stake Value: $103,102,000

Intel Corporation (NASDAQ:INTC) was the largest holding of MFP Investors in Q1 2022. The hedge fund started building its position in the company during 2011, with shares worth over $1.2 million. In Q1 2022, the fund increased its position in the company by 1%, equaling shares worth over $103.1 million. Intel Corporation (NASDAQ:INTC) accounted for 12.82% of MFP Investors’ portfolio.

Intel Corporation (NASDAQ:INTC) is a Dividend Challenger as it has been increasing its dividend consecutively for the past 7 years. In January, the company announced a 5% hike in its quarterly dividend to $0.365 per share, with a dividend yield of 3.50%, as of the close of May 25. Moreover, the company has been paying dividends to shareholders since 1992. This April, Northland set a $62 price target on Intel Corporation (NASDAQ:INTC), with an Outperform rating on the shares.

As per Insider Monkey’s Q1 2022 data, 76 hedge funds tracked by Insider Monkey held stakes in Intel Corporation (NASDAQ:INTC), up from 72 in the previous quarter. The total value of these stakes is over $3.15 billion. Among these hedge funds, Seth Klarman’s Baupost Group held the largest stake in Intel Corporation (NASDAQ:INTC) in Q1 2022, worth $822.3 million.