Billionaire Ken Fisher’s Top 5 Dividend Growth Stock Picks

4. BlackRock, Inc. (NYSE:BLK)

Fisher Asset Management’s Stake Value: $1,264,595,000
Dividend Yield as of February 16: 2.76%
Consecutive Years of Dividend Growth: 14

BlackRock, Inc. (NYSE:BLK) is an American multinational investment management company. In January, BofA maintained a Buy rating on the stock with an $813 price target, highlighting its performance last year.

Recently, BlackRock, Inc. (NYSE:BLK), one of the top dividend growth stock picks of Ken Fisher, declared a quarterly dividend of $5 per share, having raised it by 2.4% from its previous dividend. Through this increase, the company extended its dividend growth streak to 14 years.

In the fourth quarter of 2022, Fisher Asset Management lifted its position in BlackRock, Inc. (NYSE:BLK) by 4% and now owns over 1.7 million shares in the company. The total worth of these stakes is over $1.26 billion. The company made up 0.85% of the firm’s 13F portfolio.

At the end of Q3 2022, BlackRock, Inc. (NYSE:BLK) was a part of 46 hedge fund portfolios, as per Insider Monkey’s database. The collective value of stakes owned by these funds is over $1.76 billion.

Madison Funds mentioned BlackRock, Inc. (NYSE:BLK) in its Q4 2022 investor letter. Here is what the firm has to say:

“BlackRock, Inc. (NYSE:BLK) stock benefited from the strong stock market during the fourth quarter. Although markets have been challenging for BlackRock, with headwinds from both the equity and fixed income markets, the company remains well positioned for improving fixed income demand in 2023 and has also gained traction in the alternatives space.”