Billionaire Steven Cohen’s Top 5 High Dividend Stock Picks

In this article, we discuss billionaire Steve Cohen’s top 5 high-dividend stock picks. If you want to read our detailed analysis of Point72 Asset Management’s holding and recent developments, go directly to Billionaire Steven Cohen’s Top High Dividend Stock Picks.

5. Rogers Communications Inc. (NYSE:RCI)

Point72 Asset Management’s Stake Value: $124,313,067
Dividend Yield as of November 20: 3.40%

Rogers Communications Inc. (NYSE:RCI) is a diversified communications and media company involved in various aspects of the telecommunications and media industries. The company currently offers a quarterly dividend of C$0.50 per share and has a dividend yield of 3.40%, as of November 20. Steve Cohen’s hedge fund increased its position in the company by 153% during the third quarter of 2023. The hedge fund’s total stake in the company amounted to over $124.3 million. The company represented 0.36% of the firm’s 13F portfolio.

At the end of Q2 2023, 24 hedge funds in Insider Monkey’s database owned stakes in Rogers Communications Inc. (NYSE:RCI), compared with 25 in the preceding quarter. The consolidated value of these stakes is more than $523.6 million.

4. Chevron Corporation (NYSE:CVX)

Point72 Asset Management’s Stake Value: $132,780,325
Dividend Yield as of November 20: 4.16%

An American energy company, Chevron Corporation (NYSE:CVX) is next on our list of the best high-dividend stocks in billionaire Steve Cohen’s portfolio. During the third quarter, his hedge fund boosted its position in the company significantly by 23,365%. The firm ended the quarter with CVX stakes worth over $132.7 million, which accounted for 0.38% of its 13F portfolio.

Chevron Corporation (NYSE:CVX) has been growing its dividends for the past 36 years. The company currently offers a quarterly dividend of $1.51 per share and has a dividend yield of 4.16%, as of November 20.

3. AbbVie Inc. (NYSE:ABBV)

Point72 Asset Management’s Stake Value: $152,320,538
Dividend Yield as of November 20: 4.49%

AbbVie Inc. (NYSE:ABBV) is an American multinational pharmaceutical company known for its focus on research, development, and commercialization of innovative medicines. The company’s dividend growth currently stands at 51 years and it pays a quarterly dividend of $1.55 per share. The stock has a dividend yield of 4.49%, as recorded on November 20.

Point72 Asset Management owned over 1 million shares in AbbVie Inc. (NYSE:ABBV) at the end of Q3 2023, worth more than $152.3 million. The company represented 0.44% of the firm’s 13F portfolio.

As of the end of Q2 2023, 74 hedge funds owned stakes in AbbVie Inc. (NYSE:ABBV), as per Insider Monkey’s database. The collective value of these stakes is over $2.3 billion.

2. American Tower Corporation (NYSE:AMT)

Point72 Asset Management’s Stake Value: $195,679,055
Dividend Yield as of November 20: 3.29%

American Tower Corporation (NYSE:AMT) is an American real estate investment trust company that focuses primarily on owning, operating, and developing multi-tenant communications real estate. The company offers a quarterly dividend of $1.62 per share, having raised it by 3.2% in September this year. Through this increase, the company took its dividend growth streak to 12 years. With a dividend yield of 3.29%, as of November 20, AMT is one of the best high-dividend stocks in billionaire Steve Cohen’s portfolio.

American Tower Corporation (NYSE:AMT) was a part of 60 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $3.03 billion.

1. BP p.l.c. (NYSE:BP)

Point72 Asset Management’s Stake Value: $245,127,105
Dividend Yield as of November 20: 4.74%

BP p.l.c. (NYSE:BP) tops our list of the best high-dividend stocks in billionaire Steve Cohen’s portfolio. The global energy company offers a dividend of $0.4362 per American Depositary Share (ADS), for a dividend yield of 4.74%, as of November 20.

As of the close of Q2 2023, 36 hedge funds tracked by Insider Monkey reported having stakes in BP p.l.c. (NYSE:BP), compared with 41 in the preceding quarter. The collective value of these stakes is more than $857 million.

You can also take a look at Bill Gates’ 11 Dividend Stocks and 12 Best-Performing Growth Stocks in 2023