5 Best Blue Chip Dividend Stocks Hedge Funds Are Buying

1. Microsoft Corporation (NASDAQ: MSFT)

Number of Hedge Fund Holders: 251
Dividend Yield: 0.8%
Number of Years of Consistent Dividend Growth: 19

Microsoft Corporation (NASDAQ: MSFT) is an information technology company that develops, licenses, and supports software, services, devices, and solutions for consumers across the world. It ranks 1st on our list of the best blue chip dividend stocks hedge funds are buying.

This July, Morgan Stanley’s Keith Weiss cited the firm’s Q2 CIO survey to claim that Microsoft Corporation (NASDAQ: MSFT) is still leading IT wallet share gainers, and kept the stock as a top pick with an Overweight rating and a $300 price target on Microsoft Corporation (NASDAQ: MSFT) shares.

In the fiscal third quarter of 2021, Microsoft Corporation (NASDAQ: MSFT) had an EPS of $1.95, beating estimates by $0.17. The company’s revenue was $41.71 billion, up 19.09% year over year and beating estimates by $852.09 million. Microsoft Corporation (NASDAQ: MSFT) has gained 32.85% in the past 6 months and 29.78% year to date as well.

By the end of the first quarter of 2021, 251 hedge funds out of the 866 tracked by Insider Monkey held stakes in Microsoft Corporation (NASDAQ: MSFT) worth roughly $58.9 billion. This is compared to 251 hedge funds in the previous quarter with stakes worth about $52.8 billion.

You can also take a peek at 20 Largest European Companies by Market Cap and 15 Fastest Growing Dividend Stocks.

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