Billionaire Ken Griffin’s Top 5 High Dividend Stock Picks

“We established a position in Bristol-Myers Squibb Company, a global biopharmaceutical company focused on discovering, developing, and selling medicines for patients in the therapeutic areas of oncology, immunology, cardiovascular, and neurology. The stock trades at a low valuation relative to its current earnings because the company faces loss of exclusivity on several key drugs over the next eight years, including Revlimid, Eliquis, and Opdivo.

At the same time, Bristol-Myers has multiple new products in the early stages of launch (e.g., Opdualag, Camzyos, Breyanzi, and Reblozyl), a robust new product pipeline (e.g., Deucravacitinib, Milvexian, and CELMoD agents), and a strong balance sheet combined with strong free cash flow generation that the company can use for acquisitions. Management believes these growth drivers can more than offset the loss of exclusivity and drive revenue growth through the end of the decade. Given the company’s low valuation, if the company can execute, we think there is substantial upside in the stock.”

3. Cisco Systems, Inc. (NASDAQ:CSCO)

Citadel Investment Group’s Stake Value: $223,259,001
Dividend Yield as of February 17: 3.08%

Cisco Systems, Inc. (NASDAQ:CSCO) is an American multinational digital communications company, based in California. In February, Loop Capital raised its price target on the stock to $66 with a Buy rating on the shares, appreciating the company’s recent quarterly earnings. The firm also highlighted the company’s ‘decade-high’ revenue growth.

Cisco Systems, Inc. (NASDAQ:CSCO) is one of the top high-dividend stock picks of billionaire Ken Griffin as the hedge fund owned over 4.6 million shares in the company, worth $223.2 million. The company represented 0.05% of Citadel’s 13F portfolio.

On February 15, Cisco Systems, Inc. (NASDAQ:CSCO) hiked its quarterly dividend by 1 cent to $0.39 per share. Through this increase, the company took its dividend growth streak to 12 years. As of February 17, the stock has a dividend yield of 3.08%.

Cisco Systems, Inc. (NASDAQ:CSCO) was a part of 68 hedge fund portfolios in Q3 2022, compared with 63 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $2.78 billion.

Carillon Tower Advisers mentioned Cisco Systems, Inc. (NASDAQ:CSCO) in its Q1 2022 investor letter. Here is what the firm has to say:

“Cisco Systems (NASDAQ:CSCO) traded lower as investors weighed how supply chain concerns would impact sales growth. The company has been upgrading its switching and routing offerings, which should lead to strong demand as on-site locations upgrade infrastructure.”

2. Broadcom Inc. (NASDAQ:AVGO)

Citadel Investment Group’s Stake Value: $238,323,572
Dividend Yield as of February 17: 3.10%

Broadcom Inc. (NASDAQ:AVGO) is another top high-dividend stock pick of billionaire Ken Griffin. The semiconductor company has been raising its payouts consistently for the past 12 years. It pays a quarterly dividend of $4.60 per share and has a dividend yield of 3.10%, as recorded on February 17.

At the end of Q4 2022, Citadel Investment Group owned over $238.3 million worth of stakes in Broadcom Inc. (NASDAQ:AVGO). The company made up 0.05% of the firm’s 13F portfolio.

The number of hedge funds tracked by Insider Monkey owning stakes in Broadcom Inc. (NASDAQ:AVGO) grew to 74 in Q3 2022, from 66 in the previous quarter. The collective value of these stakes is over $4.4 billion.

Carillon Tower Advisers mentioned Broadcom Inc. (NASDAQ:AVGO) in its Q2 2022 investor letter. Here is what the firm has to say:

“Tech stocks, including Broadcom Inc. (NASDAQ:AVGO), were one of the hardest-hit sectors due to fears over a weakening macroeconomic environment. Broadcom, however, outperformed semiconductor peers as its end-market exposures provided relatively more defensive characteristics.”

1. U.S. Bancorp (NYSE:USB)

Citadel Investment Group’s Stake Value: $296,388,126
Dividend Yield as of February 17: 3.97%

U.S. Bancorp (NYSE:USB) is a Minnesota-based financial services company. At the end of Q4 2022, Citadel Investment Group owned nearly 6.8 million shares in the company, worth over $296.3 million. The company accounted for 0.06% of the firm’s 13F portfolio. The hedge fund has been investing in the company since the fourth quarter of 2010.

U.S. Bancorp (NYSE:USB), one of the top high-dividend stock picks of billionaire Ken Griffin, currently pays a quarterly dividend of $0.48 per share. The stock’s dividend yield on February 17 came in at 3.97%, as of February 17. It has been rewarding shareholders with growing dividends for the past 12 years.

At the end of Q3 2022, elite funds remained bullish on U.S. Bancorp (NYSE:USB), with hedge fund positions increasing to 52, from 43 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of roughly $4.8 billion.