Warren Buffett’s Top 5 Dividend Stock Picks

4. American Express Company (NYSE:AXP)

Berkshire Hathaway’s Stake Value: $20,453,800,000
Dividend Yield as of November 18: 1.36%

American Express Company (NYSE:AXP) is an American multinational credit card service company. At the end of Q3 2022, Berkshire owned over 151.6 million shares in the company, worth over $20.4 billion. The hedge fund did not change its position in the company during the quarter. It represented 6.9% of Warren Buffett’s portfolio. Moreover, Buffett has earned over $25 billion from the company since he started investing in it 25 years ago.

BMO Capital raised its price target on American Express Company (NYSE:AXP) to $166 in October with a Market Perform rating on the shares, following the company’s earnings beat in the recent quarter. The firm also appreciated the company’s higher net interest income.

American Express Company (NYSE:AXP) has been making consecutive dividend payments for the past 30 years. The company currently pays a quarterly dividend of $0.52 per share and has a dividend yield of 1.36%, as of November 18.

Of the 920 hedge funds tracked by Insider Monkey in Q3 2022, 68 funds owned stakes in American Express Company (NYSE:AXP), compared with 67 in the previous quarter. These stakes are collectively valued at roughly $25 billion.