In this article, we discuss 5 dividend stocks to buy according to billionaire Ken Fisher. If you want to read our detailed analysis of Fisher Asset Management’s performance and Ken Fisher’s investment strategy, go directly to read 10 Dividend Stocks to Buy According to Billionaire Ken Fisher.
5. Oracle Corporation (NYSE:ORCL)
Fisher Asset Management’s Stake Value: $1,386,458,000
Dividend Yield as of June 15: 1.82%
Number of Hedge Fund Holders: 61
Oracle Corporation (NYSE:ORCL) is a California-based computer software company that offers a fully integrated stack of cloud applications and cloud platform services. On June 13, the company announced its fiscal Q4 2022 results, posting a 19% year-over-year growth in its Cloud revenue at $2.9 billion. The company’s total revenue came in at $11.8 billion, which exceeded estimates by $190 million.
In June, Oracle Corporation (NYSE:ORCL) announced a quarterly dividend of $0.32 per share, up 19% from its previous dividend. The company maintains a 12-year streak of consistent dividend growth, with a five-year dividend CAGR standing at 14.68%. As of June 15, the stock’s dividend yield came to be recorded at 1.82%.
Oracle Corporation (NYSE:ORCL) has been a part of Fisher Asset Management’s portfolio since 2010. At the end of Q1 2022, the firm owned over 16.7 million shares in the company, worth nearly $1.39 billion. It represented 0.81% of Ken Fisher’s portfolio. In June, Jefferies lifted its price target on Oracle Corporation (NYSE:ORCL) to $75, but kept a Hold rating on the shares, noting that the company’s organic growth rates remained well below the large-cap software average. However, the firm saw strength in its cloud and database businesses.
The number of hedge funds tracked by Insider Monkey owning stakes in Oracle Corporation (NYSE:ORCL) grew to 61 in Q1 2022, from 57 in the previous quarter. These stakes hold a consolidated value of over $4.3 billion. Among these hedge funds, First Eagle Investment Management held the largest position in the company, with stakes valued at $2.14 billion.
ClearBridge Investments mentioned Oracle Corporation (NYSE:ORCL) in its Q3 2021 investor letter. Here is what the firm has to say:
“While the information technology (IT) sector in the benchmark stalled amid rising rates, our holdings outperformed in relative terms, helped in part by a strong quarter from Oracle, the dominant provider of on-premise database software for large enterprises globally and an increasingly viable cloud competitor. Solid quarterly results, raised guidance, healthy underlying metrics and an attractive valuation contributed to strong performance during the period.”
