5 Dividend Stocks to Buy According to Richard Hamm’s Bristol Gate Capital

1. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 71
Dividend Yield as of May 27: 2.98%
Bristol Gate Capital’s Stake Value: $113,483,000

Broadcom Inc. (NASDAQ:AVGO) is an American manufacturing company that specializes in the production of semiconductor and infrastructure software products. Recently, the company announced to buy VMWare, a cloud computing company, in a deal valued at $61 billion. Through this purchase, Broadcom Inc. (NASDAQ:AVGO) will move into the new space of enterprise software.

Broadcom Inc. (NASDAQ:AVGO) currently pays a quarterly dividend of $4.10 per share, with a dividend yield of 2.98%, as of the close of May 27. In December 2021, the company hiked its quarterly dividend by 14%, which marked the company’s 11^th consecutive year of dividend growth.

At the end of Q1 2022, Bristol Gate Capital owned shares worth over $113.4 million in Broadcom Inc. (NASDAQ:AVGO) after increasing its position by 4%. The company represented 5.56% of the hedge fund’s 13F portfolio. The fund has been investing in the company since 2018.

In addition to Bristol Gate, 71 elite funds tracked by Insider Monkey held stakes in Broadcom Inc. (NASDAQ:AVGO) in Q1 2022, up from 62 in the previous quarter. These stakes are valued at roughly $5.5 billion, showing growth from $4.8 billion worth of stakes held by hedge funds in Q4 2021.

ClearBridge Investments mentioned Broadcom Inc. (NASDAQ:AVGO) in its Q4 2021 investor letter. Here is what the firm has to say:

“However, ClearBridge portfolio companies are responding by supporting their workforces and showing resilience in adapting and thriving. Semiconductor companies ClearBridge owns and engages with have been successful in advancing vaccinations in their global supply chains. In Malaysia, for example, Broadcom has taken part in PIKAS, a public-private partnership vaccination program focusing on the workforce in critical manufacturing sectors. By the summer of 2021 Broadcom was able to get over 90% of workers in its Penang factory at least one dose of vaccine, and roughly 73% fully vaccinated. Companies in the program also pay the administration cost for vaccinations including cases where the employee is no longer employed by the company before full immunization of the employee.”

You can also take a look at 10 Best Solar Energy Stocks to Buy for 2022 and 10 Best Semiconductor Stocks to Buy for 2022

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