Bill Gates’ Current Portfolio: Top 5 Dividend Stocks

4. Caterpillar Inc. (NYSE:CAT)

Bill Gates’ Stake Value: $1,761,631,770
Dividend Yield as of February 22: 1.99%

Caterpillar Inc. (NYSE:CAT) is an American manufacturing company that specializes in the production of construction equipment. The Gates Foundation has been investing in the company since the third quarter of 2012. In the most recent quarter, the hedge fund owned a CAT stake worth over $1.7 billion. The company represented 4.93% of Bill Gates’ portfolio.

In February, Credit Suisse lifted its price target on Caterpillar Inc. (NYSE:CAT) to $306 with an Outperform rating on the shares, appreciating the company’s performance last year.

Caterpillar Inc. (NYSE:CAT) currently pays a quarterly dividend of $1.20 per share and has a dividend yield of 1.99%, as of February 22. The company holds a 28-year streak of consistent dividend growth.

The number of hedge funds tracked by Insider Monkey owning stakes in Caterpillar Inc. (NYSE:CAT) grew to 50 in Q4 2022, from 43 in the previous quarter. These stakes have a total value of over $5 billion.

Diamond Hill Capital mentioned Caterpillar Inc. (NYSE:CAT) in its Q4 2022 investor letter. Here is what the firm has to say:

“In the case of Caterpillar Inc. (NYSE:CAT), the company reported a better-than-expected Q3 as demand in mining, non-residential construction and energy remained healthy through the year even as recession fears grew. Caterpillar showed strong pricing power and operating efficiency in the face of supply chain constraints and labor shortages, which in turn contributed to better-than-expected share price performance.”