5 Stocks that Helped Warren Buffett Make $4.6 Billion in Dividends

In this article, we will be looking at 5 dividend stocks that helped Warren Buffett make $4.6 billion in dividends. To read our detailed analysis of Buffett’s investment strategy and profile, you can go directly to see the 10 Dividend Stocks that Helped Warren Buffett Make $4.6 Billion in Dividends.

5. Verizon Communications Inc. (NYSE: VZ)

Number of Hedge Fund Holders: 63
Dividend Yield: 4.52%
Dividend Income Contributed: $399 million

Verizon Communications Inc. (NYSE: VZ), a communication services company, offers a range of communications, technology, and entertainment products and services across the globe. The company ranks 5th on our list of dividend stocks that helped Warren Buffett make $4.6 billion in dividends.

Cowen, as of this July, holds an Outperform rating on shares of Verizon Communications Inc. (NYSE: VZ). The firm also raised its price target on the stock in the same month, from $66 to $68.

In the second quarter of 2021, Verizon Communications Inc. (NYSE: VZ) had an EPS of $1.37, beating estimates by $0.07. The company’s revenue was $33.76 billion, up 10.89% year over year and beating estimates by $1.03 billion.

By the end of the second quarter of 2021, 63 hedge funds out of the 873 tracked by Insider Monkey held stakes in Verizon Communications Inc. (NYSE: VZ) worth roughly $11 billion. This is compared to 69 hedge funds in the previous quarter with a total stake value of approximately $11.4 billion.

Miller/Howard Investments, an investment management firm, mentioned Verizon Communications Inc. (NYSE: VZ) in its first-quarter 2021 investor letter. Here’s what they said:

“We sold Verizon (VZ) based on concerns over how much they might spend in ongoing spectrum auctions. Management may legitimately view spending billions of dollars to expand their spectrum holdings as necessary, but we believe the payoff will be slow and will make it challenging to grow the dividend at a good pace.”