5 High Dividend Stocks Picked by Billionaire Gabelli

2. State Street Corporation (NYSE:STT)

Dividend Yield as of September 26: 4.02%
GAMCO Investors’ Stake Value: $56,437,000

State Street Corporation (NYSE:STT) is a multinational financial service and bank holding company that has operations worldwide. In August, Deutsche Bank raised its price target on the stock to $74 with a Hold rating on the shares, appreciating the company’s strong fundamentals in Q2 earnings. The firm also expects the company to maintain its performance in the next quarter.

At the end of Q2 2022, GAMCO Investors owned 915,436 shares in State Street Corporation (NYSE:STT), with a total value of over $56.4 million. The company represented 0.61% of the firm’s 13F portfolio.

State Street Corporation (NYSE:STT) holds a strong dividend history as it has been paying consistent dividend payments for the past 24 years. The company also holds a 12-year track record of dividend growth. It currently pays a quarterly dividend of $0.63 per share, with a dividend yield of 4.02%, as of September 26.

The number of hedge funds tracked by Insider Monkey owning stakes in State Street Corporation (NYSE:STT) grew to 41 in Q2 2022, from 29 in the previous quarter. The collective value of these stakes is over $667.6 million. With over 6 million shares, Harris Associates was the largest stakeholder of the Boston-based company in Q2.