MSFT and 4 Other Companies Just Increased Their Dividends

2. Texas Instruments Incorporated (NASDAQ:TXN)

Number of Hedge Fund Holders: 55

Texas Instruments Incorporated (NASDAQ:TXN) is an American semiconductor manufacturing company that also produces various integrated circuits. The company was a popular buy among elite funds in Q2 2022, as 55 hedge funds tracked by Insider Monkey were bullish on the stock, up from 46 in the previous quarter. The stakes owned by these hedge funds hold a consolidated value of over $1.62 billion.

Texas Instruments Incorporated (NASDAQ:TXN)’s cash position remained strong in Q2 2022. The company generated $1.7 billion in operating cash flow and its free cash flow came in at $1.17 billion. Its free cash flow represented 30.1% of the company’s revenue. The company paid over $2.2 billion to shareholders during the quarter, $1.06 billion of which accounted for dividend payments.

On September 15, Texas Instruments Incorporated (NASDAQ:TXN) declared an 8% hike in its quarterly dividend to $1.24 per share. Through this increase, the company extended its dividend growth streak to 19 years. As of September 21, the stock’s dividend yield came in at 2.96%.

In July, Citigroup raised its price target on Texas Instruments Incorporated (NASDAQ:TXN) to $165 and maintained a Neutral rating on the shares, highlighting the company’s strong quarterly earnings and guidance above consensus.