Billionaire Ken Fisher’s Top 5 Dividend Stock Picks

3. NVIDIA Corporation (NASDAQ:NVDA)

Fisher Asset Management’s Stake Value: $1,469,685,000
Dividend Yield as of November 16: 0.10%

NVIDIA Corporation (NASDAQ:NVDA) is a California-based multinational software company that specializes in vehicles, robotics, and other tools. The company currently pays a quarterly dividend of $0.04 per share and has a dividend yield of 0.10%, as of November 16.

During the third quarter of 2022, Fisher Asset Management purchased over additional 4.5 million NVDA shares, boosting its position in the company by 60%. The fund’s total stake in the company amounted to over $1.46 billion, which accounted for 1.1% of billionaire Ken Fisher’s portfolio.

In November, Credit Suisse initiated its coverage of NVIDIA Corporation (NASDAQ:NVDA) with an Outperform rating and also raised its price target on the stock to $210. The firm highlighted the company’s growth in its AI segment throughout data center markets.

As of the close of Q2 2022, NVIDIA Corporation (NASDAQ:NVDA) was a part of 84 hedge fund portfolios, as per Insider Monkey’s data. The stakes owned by these hedge funds are collectively worth over $3.3 billion.

ClearBridge Investments mentioned NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2022 investor letter. Here is what the firm has to say:

“Likewise, graphics chip maker NVIDIA Corporation (NASDAQ:NVDA) (-19.9%) has struggled through the post-COVID-19 recovery but maintains dominant positions in key secular growth markets of AI and gaming. The company has significantly underperformed the index and semiconductor peers recently due to a gaming inventory correction, a decline in aggregate cryptocurrency demand and reduction in crypto mining intensity as well as concerns around the sustainability of data center sales.

We tactically trimmed our position early in 2022 due to concerns around these cycle dynamics but remain confident in the company’s long-term prospects.”