Billionaire Ken Fisher’s Top 5 Dividend Stock Picks

In this article, we discuss top dividend stocks to buy according to billionaire Ken Fisher. If you want to read our detailed discussion on Fisher’s investment strategy and his hedge fund’s performance, go directly to read Billionaire Ken Fisher’s Top 10 Dividend Stock Picks. 

5. The Goldman Sachs Group, Inc. (NYSE:GS)

Fisher Asset Management’s Stake Value: $1,390,120,000
Dividend Yield as of November 16: 2.61%

The Goldman Sachs Group, Inc. (NYSE:GS) is a New York-based investment banking company that specializes in a wide range of financial services. During the third quarter of 2022, Fisher Asset Management increased its position in the company by 45%, which takes its total stake in the company to roughly $1.4 billion. The company made up 1.04% of billionaire Ken Fisher’s portfolio.

On October 18, The Goldman Sachs Group, Inc. (NYSE:GS) declared a quarterly dividend of $2.50 per share, which fell in line with its previous dividend. The company has been raising its dividends consistently for the past 10 years. The stock’s dividend yield on November 16 came in at 2.61%.

JMP Securities raised its price target on The Goldman Sachs Group, Inc. (NYSE:GS) in October to $470 with an Outperform rating on the shares, presenting a strong long-term outlook for the company.

At the end of Q2 2022, 69 hedge funds tracked by Insider Monkey owned stakes in The Goldman Sachs Group, Inc. (NYSE:GS), down from 71 in the previous quarter. These stakes have a collective value of over $4.6 billion.

ClearBridge Investments mentioned The Goldman Sachs Group, Inc. (NYSE:GS) in its recently-published Q3 2022 investor letter. Here is what the firm has to say:

“We also initiated a new position in The Goldman Sachs Group, Inc. (NYSE:GS), which is trading far below what we would expect of a well-capitalized financials stock capable of generating an attractive return on equity over a market cycle. The company’s prospects are further enhanced by strong market share gains and further buildout of its fintech consumer finance initiatives.

Additionally, its earnings appear to have stabilized from the peak deal activity and inflated asset valuations of the last market cycle. While we acknowledge that a full-blown recession would put pressure on these earnings, Goldman Sachs has a history of capitalizing on downcycles to solidify its leading investment and trading businesses.”