In this article, we discuss 5 best dividend stocks on Robinhood. If you want to read about some more dividend stocks on Robinhood, go directly to 10 Best Dividend Stocks on Robinhood.
5. Cisco Systems, Inc. (NASDAQ:CSCO)
Number of Hedge Fund Holders: 63
Dividend Yield as of October 20: 3.63%
Cisco Systems, Inc. (NASDAQ:CSCO) designs, manufactures, and sells Internet Protocol based networking products related to the communications and information technology industry. It is one of the best dividend stocks to invest in. On October 18, IT professional resourcing and project service provider, Experis, and Cisco Systems announced that they will work to train and upskill people around the globe with in-demand IT skills to help them secure employment.
On August 31, investment advisory KGI Securities upgraded Cisco Systems, Inc. (NASDAQ:CSCO) to Outperform from Neutral with a $53 price target. Analyst Jackson Chiang issued the ratings update.
At the end of the second quarter of 2022, 63 hedge funds in the database of Insider Monkey held stakes worth $1.9 billion in Cisco Systems, Inc. (NASDAQ:CSCO), compared to 66 in the previous quarter worth $1.7 billion.
In its Q1 2022 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Cisco Systems, Inc. (NASDAQ:CSCO) was one of them. Here is what the fund said:
“Cisco Systems (NASDAQ:CSCO) traded lower as investors weighed how supply chain concerns would impact sales growth. The company has been upgrading its switching and routing offerings, which should lead to strong demand as on-site locations upgrade infrastructure.”
4. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 65
Dividend Yield as of October 20: 5.62%
Intel Corporation (NASDAQ:INTC) engages in the design, manufacture, and sale of computer products and technologies worldwide. It is one of the top dividend stocks to invest in. On October 17, Intel Corp added that it has cut valuation for its upcoming initial public offering of Mobileye Global, the self-driving car unit of Intel, as it is set to launch a roadshow for the IPO. Mobileye is targeting a valuation of under $20 billion after seeing a valuation of $50 billion.
On October 11, Needham analyst N Quinn Bolton maintained a Buy rating on Intel Corporation (NASDAQ:INTC) stock and lowered the price target to $32 from $40, highlighting that reduced demand spreading across most end-markets like analog, industrial, automotive, and data center, had led to decreasing forward estimates for the firm.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Intel Corporation (NASDAQ:INTC) was one of them. Here is what the fund said:
“Then, there is the case of Intel Corporation (NASDAQ:INTC). A blue-chip tech champion with a market capitalization of over $500 billion in early 2000, the stock was trading at a P/E multiple of 42. It was a fast-growing company whose stock price and multiple declined more or less in line with its peers. However, unlike Google, Intel’s net income has grown from $7.3 billion in 1999 to $19.9 billion in 2021, a compounded annual growth rate of just 4.7%. Its growth from the dot com era has not proven to be durable, and Intel has yet to trade at the price it attained in 1999.”
3. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders: 69
Dividend Yield as of October 20: 1.93%
Oracle Corporation (NYSE:ORCL) offers products and services that address enterprise information technology environments worldwide. It is one of the elite dividend stocks to invest in. On September 29, Oracle and Telefonos de Mexico, a Mexican telecommunication company, disclosed that they will offer Oracle Cloud Infrastructure or OCI services to customers across Mexico.
On September 13, Evercore ISI analyst Kirk Materne maintained an In Line rating on Oracle Corporation (NYSE:ORCL) stock and raised the price target to $87 from $78, highlighting that the company delivered solid fiscal Q1 results.
At the end of the second quarter of 2022, 69 hedge funds in the database of Insider Monkey held stakes worth $4.2 billion in Oracle Corporation (NYSE:ORCL), compared to 61 in the previous quarter worth $4.3 billion.
In its Q2 2022 investor letter, First Eagle Investment Management, an asset management firm, highlighted a few stocks and Oracle Corporation (NYSE:ORCL) was one of them. Here is what the fund said:
“Oracle Corporation (NYSE:ORCL) is one of the world’s largest independent enterprise software companies and has been reinventing itself for the cloud-computing environment, a transition pursued primarily through investments in organic research and design and smallish, well-priced acquisitions. That said, Oracle in June closed its largest-ever deal with the acquisition of Cerner, a designer of software to store and analyse medical records and other healthcare data.
Oracle took on additional debt to finance this all-cash acquisition and as a result plans to moderate its stock-buyback program to focus on debt reduction. Despite the weak quarter for the stock, Oracle’s operations remain strong; it reported better- than-expected results for its most recent quarter and issued upbeat guidance for the coming fiscal year.”
2. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 128
Dividend Yield as of October 20: 0.64%
Apple Inc. (NASDAQ:AAPL) manufactures and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It is one of the major dividend stocks to invest in. On October 17, Apple stated that it is set to unveil its new model of iPad Pro tablet within days. The new iPad Pro will come in the 11 inch and 12.9 inch versions. On October 17, Apple disclosed that it has paused its plans to use memory chips from China’s Yangtze Memory Technologies in its products.
On October 13, Credit Suisse analyst Shannon Cross maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target to $190 from $201, noting the weaker consumer backdrop had led to lowered estimates for the firm in 2023 and 2024.
At the end of the second quarter of 2022, 128 hedge funds in the database of Insider Monkey held stakes worth $143 billion in Apple Inc. (NASDAQ:AAPL), compared to 131 in the preceding quarter worth $182 billion.
In its Q3 2022 investor letter, Wedgewood Partners, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:
“Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as software, continues to add significant value for customers of its products and services. We expect this favourable competitive dynamic to continue for the foreseeable future.”
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 258
Dividend Yield as of October 20: 1.15%
Microsoft Corporation (NASDAQ:MSFT) develops, licenses, and supports software, services, devices, and solutions worldwide. It is one of the elite dividend stocks to invest in. On October 17, Mizuho analyst Gregg Moskowitz maintained a Buy rating on Microsoft Corporation (NASDAQ:MSFT) stock and lowered the price target to $320 from $340, highlighting that software stocks are still under pressure due to high inflation, supply chain constraints and the ongoing Russia-Ukraine war.
At the end of the second quarter of 2022, 258 hedge funds in the database of Insider Monkey held stakes worth $56 billion in Microsoft Corporation (NASDAQ:MSFT), compared to 259 in the preceding quarter worth $65.6 billion.
In its Q3 2022 investor letter, Lakehouse Capital, an asset management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:
“During the month, the Fund initiated a new position in Microsoft Corporation (NASDAQ:MSFT), a name that is no doubt familiar to our investors. The company was founded by Bill Gates and Paul Allen in a friend’s garage in 1975 and began dominating the operating system market with MS-DOS by the mid-1980s. The company has come a long way since then and is now widely considered the most critical and indispensable IT mega-vendor for businesses globally. In addition to its well-known Windows operating systems and Office productivity suite, the company has a broad portfolio of strategic products, including a rapidly growing public cloud business in Azure and a sizeable gaming presence.
Microsoft’s foundational products, Office365 and Windows365, are ubiquitous and highly penetrated with circa 90% and 80% market share, respectively. These solutions are deeply ingrained in commercial and personal use globally and across all industry sectors. They serve as stable, high-margin cash flow generators for Microsoft whilst they expand and invest in other growth areas of the business. One particular growth area, which is the most exciting part of Microsoft’s business in our view, is their public cloud service, Azure (read more)
You can also take a peek at 10 Best MLP Dividend Stocks to Buy and 10 Best Stocks to Buy According to Billionaire Dan Loeb.
