5 Best Dividend Stocks to Buy According to Diamond Hill Capital

1. Abbott Laboratories (NYSE:ABT)

Diamond Hill Capital’s Stake Value: $639,592,000

Abbott Laboratories (NYSE:ABT) is a global healthcare company that specializes in medical devices and conducts related research. The company was the second-largest holding of Diamond Hill Capital in Q2. The hedge fund owned over 5.8 million shares in the company, valued at nearly $640 million. It accounted for 2.79% of the fund’s 13F portfolio.

Abbott Laboratories (NYSE:ABT) currently offers a quarterly payout of $0.47 per share, raising it by 4% in December 2021. With that increase, the company joined the list of Dividend Kings that have raised their dividends for over 50 years. As of August 31, the stock’s dividend yield stood at 1.82%.

In July, BTIG reiterated its ‘Buy’ rating on Abbott Laboratories (NYSE:ABT), presenting a long-term positive stance on the MedTech industry.

At the end of Q2, 61 hedge funds tracked by Insider Monkey owned stakes in Abbott Laboratories (NYSE:ABT), down from 68 in the previous quarter. Those stakes held a consolidated value of over $3.6 billion.

You can also take a look at Ray Dalio’s Bridgewater Associates Portfolio: Top 10 Dividend Stocks and the 10 Best Renewable Energy Stocks to Buy and Hold for the Next 10 Years

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