In this article, we discuss the 5 best dividend stocks to buy according to billionaire Ken Griffin. If you want to read our detailed analysis of Griffin’s history and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to Billionaire Ken Griffin.
5. Intel Corporation (NASDAQ: INTC)
Griffin’s Stake Value: $352,000,000
Percentage of Ken Griffin’s 13F Portfolio: 0.09%
Dividend Yield: 2.43%
Number of Hedge Fund Holders: 83
American chipmaker Intel Corporation (NASDAQ: INTC) ranks 5th on the 10 best dividend stocks to buy according to billionaire Ken Griffin. Intel is one of the biggest semiconductor manufacturers in the world. The California-based technology firm develops high-end computer chips used in gaming, cryptocurrency mining, and personal and enterprise computing. In addition, the company creates innovative solutions for other branches of technology such as AI, cloud computing, and 5G network connectivity. Intel Corporation (NASDAQ: INTC) currently pays an annual dividend of $1.39 per share, with a 2.43% dividend yield. Year to date, shares of INTC jumped 16% over the last twelve months.
In 2017, Intel Corporation (NASDAQ: INTC) acquired Israeli self-driving computer vision developer Mobileye for $15.3 billion to strengthen its position in the autonomous market. In recent news, Intel Corporation CEO Pat Gelsinger has stated intentions to invest $20 billion in a chip production plant in Arizona, anticipating a 10-year boom in the semiconductor business.
The company has a market cap of $231 billion. The company’s first-quarter revenue was $19.7 billion, down 1% from $19.8 billion in the first quarter of 2020. Revenues from the Internet of Things Group and autonomous driving unit Mobileye were up 4% and 48%, respectively. Intel Corporation announced a $77 billion GAAP revenue forecast for the entire year of 2021. As of June 16, Intel Corporation (NASDAQ: INTC) shares trade at $57.22 and have a P/E ratio of 12.84. The 52-week price range of DHR is $43.61 – $68.49. On May 20, Keybanc maintained an Overweight rating on Intel Corporation, with a price target of $70 per share.
Citadel Investment Group holds 5,504,008 shares in the company worth over $352 million. The hedge fund has increased stakes in Intel Corporation (NASDAQ: INTC) by 330% in the past few months. At the end of the first quarter of 2021, 83 hedge funds in the database of Insider Monkey held stakes worth $7.61 billion in Intel Corporation (NASDAQ: INTC), up from 72 the preceding quarter worth $5.6 billion.
Like Apple Inc. (NASDAQ: AAPL), NVIDIA Corporation (NASDAQ: NVDA), and Comcast Corporation (NASDAQ: CMCSA), Intel Corporation (NASDAQ: INTC) is one of the best dividend stocks to buy according to billionaire Ken Griffin.
In the Q1 2021 investor letter, Alger Spectra Fund mentioned Intel Corporation (NASDAQ: INTC) and shared its insights. Here is what the fund said:
“Short exposure to Intel also detracted from performance. Intel designs and manufactures semiconductors for the computing and communications industries. Intel’s proprietary intellectual strength and manufacturing prowess versus the competition is deteriorating, which is causing the company to lose market share and profit opportunities. The short position detracted from portfolio returns as the share price reacted positively to the announcement of Pat Gelsinger being hired as chief executive officer, a stronger-than-anticipated quarterly earnings report driven by unusually robust PC sales that we believe are unsustainable and the unveiling of “Intel Unleashed,” a new long-term program to help improve manufacturing and spur innovation. This program involves opening two fabrication plants in Arizona, which confirms Intel’s commitment to continue as an integrated design manufacturer. Importantly, Intel continues to experience issues with its next-generation server chips which are disadvantaging Intel versus the competition.”
