5 Technology Dividend Stocks Billionaires Are Loading Up On

4. Apple Inc. (NASDAQ:AAPL)

Number of Billionaire Investors: 18
Number of Hedge Fund Holders: 131

Apple Inc. (NASDAQ:AAPL) is another popular technology dividend stock among billionaire investors. The company has been raising its dividends consistently for the past 11 years. It currently pays a quarterly dividend of $0.24 per share and has a dividend yield of 0.53%, as of June 3.

Apple Inc. (NASDAQ:AAPL) also attracted positive ratings from Wall Street analysts in view of its growing sales. In June, both Morgan Stanley and Jefferies raised their price targets on the stock to $190 and $210, respectively.

Apple Inc. (NASDAQ:AAPL) was a part of 131 hedge fund portfolios at the end of Q1 2023, as per Insider Monkey’s database. These stakes are collectively worth over $165.2 billion. Billionaires Warren Buffett and Ken Griffin were some of the company’s leading stakeholders in Q1.

Here’s what Fred Alger Management said about Apple Inc. (NASDAQ:AAPL) in its Q1 2023 investor letter:

“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications, computing, and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives particularly tight engagement with consumers and enterprises, which is fostering the growing purchase of high margin services like music, apps, and Apple Pay. While iPhone sales were down year-over-year (YoY). services revenues grew 7% YoY which was slightly above analyst estimates. Company earnings were also better-than-anticipated due to lower input costs, such as memory chips and cost control initiatives. Aside from production disruptions, negative sentiment had also weighed on shares as investors questioned how an economic slowdown would affect consumer demand for Apple products in 2023. However, management projected an acceleration in earnings for the fiscal first quarter, where they noted that iPhone and services growth should remain strong, along with encouraging impacts around product mix, lower input costs, and continued cost controls.”