5 Dividend Stocks to Buy According to Billionaire Louis Bacon

In this article, we discuss the 5 dividend stocks to buy according to billionaire Louis Bacon. If you want to read our detailed analysis of Bacon’s history, investment philosophy, and hedge fund performance, go directly to the 10 Dividend Stocks to Buy According to Billionaire Louis Bacon.

5. The Interpublic Group of Companies, Inc. (NYSE:IPG)

Moore Global Investments Stake Value: $5,427,000
Percentage of Moore Global Investments’ 13F Portfolio: 0.08%
Number of Hedge Fund Holders: 31
Dividend Yield: 2.93%

The Interpublic Group of Companies, Inc. (NYSE:IPG) is a publicly listed advertising corporation based in the United States. Louis Bacon’s Moore Global Investments initiated a stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the first quarter of 2011, purchasing 200,000 shares of the company.

The Interpublic Group of Companies, Inc. (NYSE:IPG) issued a quarterly dividend of $0.27 per share in November, which was in line with the previous. In October, JPMorgan analyst Alexia Quadrani raised her price target on The Interpublic Group of Companies, Inc. (NYSE:IPG) to $43 from $38 and reiterated an “Overweight” rating on the shares.

At the end of the third quarter of 2021, 31 hedge funds in the database of Insider Monkey held stakes worth $643.16 million in The Interpublic Group of Companies, Inc. (NYSE:IPG), same as in the preceding quarter worth $647.81 million.

Ariel Investments, an investment management firm, in its third-quarter 2021 investor letter mentioned The Interpublic Group of Companies, Inc. (NYSE:IPG). Here is what the fund said:

“Marketing communication company, Interpublic Group of Companies, Inc. (IPG) was the top contributor over the trailing one-year period. Notably, IPG is delivering a stronger than expected revenue mix between Technology and Healthcare relative to its peer group, solid cost containment and margin expansion. Meanwhile, the company continued to focus on de-levering the balance sheet. In our view, IPG’s Acxiom acquisition for data has proven to be a winner, helping the company increase their revenue across all eight major advertising sectors by industry. We believe these results continue to demonstrate the strength and resiliency of the business model and expect IPG to be a beneficiary of increasing advertising and marketing budgets across an improving global economy.”