In this article, we discuss the 5 best dividend stocks to buy according to Irving Kahn’s fund. If you want to read our detailed analysis of Kahn’s history, investment philosophy, and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to Irving Kahn’s Hedge Fund.
5. BP p.l.c. (NYSE: BP)
Kahn Brothers’ Stake Value: $46,576,000
Percentage of Kahn Brothers’ 13F Portfolio: 7.2%
Dividend Yield: 4.84%
Number of Hedge Fund Holders: 29
BP p.l.c. (NYSE: BP) is a multinational oil and gas company based in London. The company was founded in 1908 and stands fifth on the list of 10 best dividend stocks to buy according to Irving Kahn’s fund. BP p.l.c. shares have gained 25.19% year-to-date.
On July 6, JPMorgan analyst Christyan Malek maintained an “Overweight” rating on the stock.
Kahn Brothers holds 1.91 million shares in BP p.l.c. (NYSE: BP) worth over $46 million. This represents 7.2% of their portfolio. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the company’s most significant stakeholder, with 17.38 million shares worth $423.27 million.
4. Chevron Corporation (NYSE: CVX)
Kahn Brothers’ Stake Value: $413,000
Percentage of Kahn Brothers’ 13F Portfolio: 0.06%
Dividend Yield: 5.15%
Number of Hedge Fund Holders: 41
Chevron Corporation (NYSE: CVX) is an American multinational energy corporation. It was founded in 1984 and is ranked fourth on the list of 10 best dividend stocks to buy according to Irving Kahn’s fund. Chevron has delivered 17.23% returns in the past 12 months.
On July 12, BMO Capital analyst Phillip Jungwirth initiated coverage of Chevron Corporation (NYSE: CVX) with an “Outperform” rating and a $123 price target. On April 28, Chevron Corporation (NYSE: CVX) declared a quarterly dividend of $1.34 per share, a 3.9% increase from the prior dividend of $1.29. This is the company’s 34th year of consecutive dividend payment.
Kahn Brothers holds 3,948 shares in Chevron Corporation (NYSE: CVX) worth $413.000, representing 0.06% of their portfolio. The biggest stakeholder of the company is Berkshire Hathaway, with 23.67 million shares worth $2.48 billion.
ClearBridge Investments, in their first quarter 2021 investor letter, mentioned Chevron Corporation (NYSE: CVX). Here is what the fund said:
“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”
3. GlaxoSmithKline plc (NYSE: GSK)
Kahn Brothers’ Stake Value: $45,175,000
Percentage of Kahn Brothers’ 13F Portfolio: 6.99%
Dividend Yield: 5.51%
Number of Hedge Fund Holders: 25
GlaxoSmithKline plc (NYSE: GSK) is a multinational pharmaceutical company. The company was founded in 1715, and it stands third on the list of 10 best dividend stocks to buy according to Irving Kahn’s fund. GlaxoSmithKline currently has a $100.04 billion market capitalization.
On July 6, Morgan Stanley analyst Mark Purcell raised the firm’s price target on GlaxoSmithKline plc (NYSE: GSK) to 1,590 GBp from 1,550 GBp and kept an “Equal Weight” rating on the shares.
Irving Kahn’s Kahn Brothers currently holds 1.27 million shares of GlaxoSmithKline plc (NYSE: GSK) that amounts to $45.18 million. GlaxoSmithKline occupies 6.99% of Kahn Brothers’ total portfolio. Out of the hedge funds being tracked by Insider Monkey, Fisher Asset Management is a leading shareholder in GlaxoSmithKline plc (NYSE: GSK) with 17.02 million shares worth more than $607 million.
2. Exxon Mobil Corporation (NYSE: XOM)
Kahn Brothers’ Stake Value: $902,000
Percentage of Kahn Brothers’ 13F Portfolio: 0.13%
Dividend Yield: 5.68%
Number of Hedge Fund Holders: 65
Exxon Mobil Corporation (NYSE: XOM) is a multinational oil and gas corporation. The company was incorporated in 1870 and is ranked second on the list of 10 best dividend stocks to buy according to Irving Kahn’s fund. Exxon Mobil Corporation (NYSE: XOM) currently has a $258.97 billion market capitalization. It delivered a 36.41% return in the past 12 months.
On July 12, BMO Capital analyst Phillip Jungwirth initiated a coverage of Exxon Mobil Corporation (NYSE: XOM) with a “Market Perform” rating and $69 price target.
Kahn Brothers owns 16,170 shares of the company, worth $902,000. Exxon Mobil Corporation (NYSE: XOM) is also getting the attention of the smart money, as 65 hedge funds tracked by Insider Monkey reported owning stakes in the company in the first quarter of 2021, up from 63 funds a quarter earlier.
Harding Loevner, in their first quarter 2021 investor letter, mentioned Exxon Mobil Corporation (NYSE: XOM). Here is what the fund said:
“We felt that our remaining energy holding, ExxonMobil, with its stronger balance sheet, was in a better position to ride out the cyclical slump in oil demand and even perhaps take advantage of it by investing counter-cyclically. While ExxonMobil does plan to increase capital expenditure, we’ve been disappointed in its regrettable failure to address ongoing emission trends, which reflects poorly on management’s foresight. As a result, we sold our ExxonMobil holdings.”
1. New York Community Bancorp, Inc. (NYSE: NYCB)
Kahn Brothers’ Stake Value: $56,768,000
Percentage of Kahn Brothers’ 13F Portfolio: 8.78%
Dividend Yield: 6%
Number of Hedge Fund Holders: 25
New York Community Bancorp, Inc. (NYSE: NYCB) provides banking products and services. It was founded in 1859 and ranks first on the list of 10 best dividend stocks to buy according to Irving Kahn’s fund. New York Community currently has a $5.37 billion market capitalization.
On May 5, New York Community Bancorp, Inc. (NYSE: NYCB) declared a quarterly dividend of $0.17 per share, in line with the previous. On April 26, CFRA analyst Pauline Bell upgraded New York Community stock to “Buy” from “Hold.” New York Community Bancorp, Inc. (NYSE: NYCB) also posted its earnings per share for the first quarter of 2021. The earnings per share was $0.29, beating the estimates by $0.02. The company’s revenue in the first quarter came in at $332.07 million, up 27.0% from $7.85 million year over year.
Kahn Brothers’ stake in New York Community Bancorp, Inc. (NYSE: NYCB) stock increased by 5% in the past few months. Adage Capital Management, with 5.60 million shares, is the biggest stakeholder in New York Community Bancorp.
You can also take a peek at 10 Best Dividend Stocks to Buy According to Traci Lerner’s Chescapmanager and 10 Best Dividend Stocks to Buy According to Billionaire Michael Price
