5 Quality Stocks With Dividend Yields Over 2%

2. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 71
Dividend Yield as of September 22: 2.43%

QUALCOMM Incorporated (NASDAQ:QCOM) is a California-based multinational company that manufactures semiconductors and software and also provides wireless services to its consumers. The company has been making consistent dividend payments to its shareholders since 2003 and has raised its payouts at a CAGR of 6% in the last five years. It currently pays a quarterly dividend of $0.75 per share and has a yield of 2.43%, as of September 22.

In Q2 2022, QUALCOMM Incorporated (NASDAQ:QCOM) reported revenue of $10.9 billion, which showed a 37.3% growth from the same period last year. The company generated $2.3 billion in free cash flow, up from $2.2 billion in the previous quarter. It returned $1.3 billion to shareholders during the quarter, $842 million of which represented the dividend payments. This shows that its dividends are secure within its FCF.

In September, Deutsche Bank lifted its price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $170 and kept a Buy rating on the shares, highlighting the company’s differentiated technology portfolio and its unique go-to-market strategy.

At the end of Q2 2022, 71 hedge funds in Insider Monkey’s database owned stakes in QUALCOMM Incorporated (NASDAQ:QCOM), down from 73 in the previous quarter. These stakes hold a collective value of over $2.8 billion. Ken Griffin and D. E. Shaw were some of the company’s major stakeholders in Q2.