5 Dividend Stocks to Buy According to Hari Hariharan’s NWI Management

In this article, we discuss 5 dividend stocks to buy according to Hari Hariharan’s NWI Management. If you want to read our detailed analysis of Hariharan’s investment strategy and his hedge fund’s past performance, go directly to read 9 Dividend Stocks to Buy According to Hari Hariharan’s NWI Management. 

5. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 53
Dividend Yield as of May 25: 3.29%
NWI Management’s Stake Value: $16,283,000

Chevron Corporation (NYSE:CVX) is an American energy company that has operations in over 180 countries worldwide.

At the end of March 2022, 53 hedge funds in Insider Monkey’s database held stakes in Chevron Corporation (NYSE:CVX), the same as in the previous quarter. The total value of these stakes is roughly $28 billion. With shares worth $26 billion, Warren Buffett’s Berkshire Hathaway held the largest position in the company in Q1 2022.

In January, Chevron Corporation (NYSE:CVX) announced a 6% increase in its quarterly dividend to $1.42 per share. This marked the company’s 35^th consecutive year of dividend growth. The stock’s dividend yield was recorded at 3.29%, as of the close of May 25. Appreciating the company’s strong revenue, in May, Credit Suisse lifted its price target on Chevron Corporation (NYSE:CVX) to $190, with an Outperform rating on the shares.

Chevron Corporation (NYSE:CVX) was the latest addition to NWI Management’s portfolio. The hedge fund purchased 100,000 shares in the company, valued at over $16.2 million. The company constituted 1.86% of Hari Hariharan’s portfolio.

ClearBridge Investments mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm has to say:

“The energy sector, which led a strong market in 2021, generated even more dramatic relative performance in the quarter, advancing 39% and leading the benchmark Russell 1000 Value Index. Years of restrained investment in the energy sector, combined with a strong post-pandemic recovery, contributed to the higher commodity prices. The upward pressure escalated with the Russian invasion of Ukraine. Our energy holding Chevron (NYSE:CVX) benefited from higher commodity prices and was among the top contributors to first-quarter performance.”