In this article, we will take a look at the 5 High Dividend Stocks Picked By Billionaire Ray Dalio. For deeper discussion and analysis, have a look at the 12 High Dividend Stocks Picked By Billionaire Ray Dalio.
Ray Dalio of Bridgewater Associates
5. Bank of America Corporation (NYSE:BAC)
Bridgewater Associates’ Stake Value as of Q4 2025: $55,571,615
Dividend Yield as of April 17: 2.07%
On April 16, R. Scott Siefers of Piper Sandler raised the firm’s price recommendation on Bank of America Corporation (NYSE:BAC) to $59 from $53. It reiterated a Neutral rating on the shares. The firm also lifted its EPS estimates after the company’s Q1 2026 results and updated guidance.
On the same day, Truist Financial raised its price goal on BAC to $61 from $57. The firm kept a Buy rating, following better-than-expected Q1 performance. In a research note, the analyst said the firm now builds in 8% net interest income growth for the year. That sits at the high end of the company’s updated guidance. The estimates also reflect stronger expected growth in trading, investment banking, and wealth management fees.
During the Q1 2026 earnings call, Executive VP and CFO Borthwick said the company had exceeded expectations for net interest income in the first quarter. He noted a shift in the interest rate outlook. Earlier expectations pointed to two rate cuts. That has now changed to a scenario with no cuts. Based on that shift, he said the company is raising its full-year 2026 NII growth guidance to a range of 6% to 8% compared to 2025. He added that the company still expects more than 200 basis points of positive operating leverage for the year, consistent with prior guidance. Borthwick also said the effective tax rate is expected to come in slightly above 20%.
Bank of America Corporation (NYSE:BAC) operates as a bank holding company. Its business spans Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. The Consumer Banking segment provides credit, banking, and investment services to consumers and small businesses.
4. The Allstate Corporation (NYSE:ALL)
Bridgewater Associates’ Stake Value as of Q4 2025: $58,035,550
Dividend Yield as of April 17: 2.01%
On April 14, Joshua Shanker of Bank of America raised the firm’s price recommendation on The Allstate Corporation (NYSE:ALL) to $297 from $279. It reiterated a Buy rating on the shares. The firm said it adjusted targets across its U.S. insurance coverage to reflect Q4 events and changes in peer multiples.
On April 8, Alex Scott of Barclays raised the firm’s price objective on Allstate to $208 from $207. The firm maintained an Underweight rating. The changes came as part of a Q1 preview for the insurance group. The analyst told investors that premium growth and broker organic growth “are likely to remain sluggish.” At the same time, the firm expects solid margins and strong capital deployment to support reported book value growth in Q1.
Earlier in March, the company announced estimated catastrophe losses for February of $140 million, or $111 million after tax. Total catastrophe losses for January and February reached $315 million, or $249 million after tax.
The Allstate Corporation (NYSE:ALL) provides protection products across autos, homes, electronic devices, and identity theft. Its products are distributed through Allstate agents, independent agents, major retailers, online channels, and workplace programs.
3. Comcast Corporation (NASDAQ:CMCSA)
Bridgewater Associates’ Stake Value as of Q4 2025: $104,914,259
Dividend Yield as of April 17: 4.45%
On April 16, Morgan Stanley assumed coverage of Comcast Corporation (NASDAQ:CMCSA) with an Equal Weight rating. It also set a $31 price target on the stock. The firm said the current valuation looks “attractive,” but does not see a near-term catalyst for multiple expansion. The analyst pointed to expectations for continued broadband net losses as a key overhang.
Comcast generated a record $19 billion in free cash flow in 2025 and returned nearly all of it to shareholders. A large share of that cash still comes from its broadband business, which is now under pressure. The segment lost more than 700,000 domestic customers as fiber and fixed wireless competition picked up. That backdrop helps explain why the stock trades at about 8 times forward earnings. The valuation reflects concerns that its core cash flow engine may be in structural decline.
Pressure in the connectivity business, the company’s largest and most profitable segment, has been building. Competition from fixed wireless access has been a major factor. Customer attrition did not just continue and it increased by 73% last year. Losses also picked up pace as the year progressed, as the company lost 181,000 customers in the fourth quarter, compared with 104,000 in the third.
Management has taken steps to respond. The company is spinning off its cable networks into Versant Media to streamline operations. It has also introduced aggressive promotions aimed at retaining broadband customers and expanding wireless adoption. These efforts are expected to weigh on EBITDA margins through 2026.
Comcast Corporation (NASDAQ:CMCSA) operates across Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks.
2. Wells Fargo & Company (NYSE:WFC)
Bridgewater Associates’ Stake Value as of Q4 2025: $106,391,528
Dividend Yield as of April 17: 2.12%
On April 15, Morgan Stanley lowered its price recommendation on Wells Fargo & Company (NYSE:WFC) to $97 from $100. It reiterated an Equal Weight rating on the shares. After the Q1 report, the firm raised its 2026 EPS estimate by less than 1% and cut its 2027 forecast by 3%. The changes reflect lower net interest income, weaker fees, and a higher share count.
On the same day, Bank of America lowered its price goal on Wells Fargo to $95 from $107. The firm maintained a Buy rating. The analyst said net interest margin contraction of 13 basis points quarter over quarter “came as the real sticker shock,” adding that it raised more doubts about the ROTCE improvement thesis.Following the Q1 report, the firm reduced its FY26 and FY27 EPS estimates by 2% and 4%, respectively. It also lowered its assigned multiples, citing reduced visibility on earnings.
During the Q1 2026 earnings call, CEO and Chairman Charles Scharf said the company continued to benefit from earlier investments. He noted that diluted EPS rose 15%, revenue increased 6%, loans grew 11%, and deposits climbed 7% compared with the same period last year. He also said the company closed its final outstanding consent order the previous month, bringing the total resolved since 2019 to 14. With that behind it, management is shifting its focus more fully toward accelerating growth and improving returns.
Scharf added that the company returned $5.4B to shareholders in the first quarter, including $4B through common stock repurchases, while maintaining a strong level of excess capital.
Wells Fargo & Company (NYSE:WFC) provides a range of banking, investment, and mortgage products and services, along with consumer and commercial finance. The company operates through Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
1. Johnson & Johnson (NYSE:JNJ)
Bridgewater Associates’ Stake Value as of Q4 2025: $271,923,608
Dividend Yield as of April 17: 2.29%
On April 15, Bank of America raised its price recommendation on Johnson & Johnson (NYSE:JNJ) to $254 from $253. It kept a Neutral rating on the shares. The firm described the quarter as “an okay 1Q print” that “offered nothing thesis changing.”
During the Q1 2026 earnings call, CFO Joseph Wolk said the company raised its operational sales outlook to a range of 5.9% to 6.9%, with a midpoint of $100.2 billion. He added that reported sales are now expected to grow between 6.5% and 7.5%, implying a midpoint of $100.8 billion. He also said earnings guidance was lifted by $0.02, bringing the expected range to $11.30 to $11.50.
At the same time, the company maintained its view that the adjusted pretax operating margin will improve by at least 50 basis points in 2026. He noted that a larger share of investments will be weighted toward the first half of the year. Compared with the initial 2026 outlook shared in Q4, he pointed out a shift in tone. Management moved from saying they “anticipated” growth to indicating they are actively increasing both sales growth and adjusted EPS guidance ranges.
Johnson & Johnson (NYSE:JNJ) is a global healthcare company that operates across the healthcare sector through its Innovative Medicine and MedTech segments.
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