5 Best 5% Dividend Stocks To Buy According To Hedge Funds

2. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 68
Dividend Yield as of March 15: 5.53%

Philip Morris International Inc. (NYSE:PM) is an American multinational tobacco company that is primarily engaged in the manufacturing, marketing, and sale of cigarettes, tobacco, and other nicotine-containing products. On March 7, the company declared a quarterly dividend of $1.30 per share, which as consistent with its previous dividend. In 2023, the company stretched its dividend growth streak to 14 years, which makes PM one of the best dividend stocks with high yields. As of March 15, the stock has a dividend yield of 5.53%.

The number of hedge funds in Insider Monkey’s database owning stakes in Philip Morris International Inc. (NYSE:PM) grew to 68 in Q4 2023, from 62 in the previous quarter. These stakes are worth over $5.5 billion in total. With over 15 million shares, Fundsmith LLP was the company’s largest stakeholder in Q4.