5 Best Dividend Stocks on Robinhood

2. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Fund Holders: 146
Dividend Yield: 0.70%

California-based tech giant Apple Inc. (NASDAQ: AAPL) ranks 2nd in our list of 10 best dividend stocks on Robinhood. Apple Inc. currently pays a $0.88 per share annual dividend, with a dividend yield of 0.70%. The tech behemoth pays a dividend of 26.83% of its earnings. The company announced record sales of $89.6 billion in the second quarter, up 54% year over year, and $1.40 in quarterly earnings per diluted share.

With over $2 trillion market cap, Apple Inc. (NASDAQ: AAPL) is still one of the best growth stocks to invest in. In the second quarter, Apple posted record results of $73 billion across Mac, iPhone, wearables, home, and accessories. The success of Apple’s latest M1 chip, which is now also used in the 5G-enabled iPad Pro, is driving a record sales period for the Mac. Shares of AAPL increased 66% over the past twelve months.

At the end of the fourth quarter of 2020, 146 hedge funds in the database of Insider Monkey held stakes worth $142 billion in Apple Inc. (NASDAQ: AAPL) which is an increase from 134 hedge funds in the previous quarter.

Based on our calculations, Apple Inc. (NASDAQ: AAPL) ranks 10th in our list of the 30 Most Popular Stocks Among Hedge Funds.

Distillate Capital, in its Q1 2021 investor letter, mentioned Apple Inc. (NASDAQ: AAPL). Here is what Distillate Capital has to say in its letter:

“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”