5 Best Dividend Stocks to Buy According to Billionaire Ken Griffin

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1. Visa Inc. (NYSE: V)

Griffin’s Stake Value: $458,000,000
Percentage of Ken Griffin’s 13F Portfolio: 0.12%
Dividend Yield: 0.56%
Number of Hedge Fund Holders: 164

Topping the list of the 10 best dividend stocks to buy according to billionaire Ken Griffin is Visa Inc. (NYSE: V). The San Francisco-based payments technology company held approximately 60% of the credit and debit card market in 2020. Visa Inc. (NYSE: V) expands its business by acquiring emerging fintech companies such as YellowPepper, a Latin American mobile banking and payments solution provider. Visa Inc. (NYSE: V) and cryptocurrency platform Coinbase Global, Inc. (NASDAQ: COIN) teamed together in December 2020 to launch a credit card that gives 1.5% bitcoin rewards. The company currently offers an annual dividend of $1.28 per share with a 0.56% dividend yield. The stock has provided more than 20% returns to investors in the past twelve months. Shares of V are also up 5% over the past three months.

The company has a market cap of $511 billion. The company’s revenue in the second quarter of 2021 fell 2% to $5.7 billion, compared to $5.85 billion in the same period in 2020. The company posted $3.0 billion in GAAP net income or $1.38 per share. As of June 16, Visa Inc. (NYSE: V) shares trade at $229.60 and have a P/E ratio of 47.46. The 52-week price range of Visa Inc. is $179.23 – 237.50. On June 8, Credit Suisse maintained an Outperform rating on Visa Inc., with a price target of $285 per share. 

Ken Griffin’s Citadel Investment Group holds 2,163,547 shares in the company worth over $458 million. The hedge fund has upped its stakes in Visa Inc. (NYSE: V) by 3% in the past few months. There were 164 hedge funds that reported owning stakes in Visa Inc. (NYSE: V) at the end of the first quarter, down from 166 funds a quarter earlier. The total value of these stakes at the end of Q1 is $26.5 billion. Ken Fisher’s Fisher Asset Management is a leading shareholder in Visa Inc. (NYSE: V) with 22,860,315 shares worth more than $4.84 billion.

You can also take a peek at Warren Buffett’s Worst Investments of All Time and 10 Best Undervalued Stocks to Buy Now.

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