5 Best Dividend Stocks to Buy According to Noam Gottesman’s GLG Partners

1. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 70
Dividend Yield as of May 20: 5.49%
GLG Partners’ Stake Value: $121,580,000

AT&T Inc. (NYSE:T) is an American multinational telecommunications holding company and is the largest provider of mobile services in the US. In March 2022, the company announced a quarterly dividend of $0.28 per share, after the company acquired a position in Warner Bros. Discovery. The annual dividend will come at $1.11 per share, in line with what the company had already declared. AT&T Inc. (NYSE:T) has been raising its dividend consistently for the past 35 years. The stock’s dividend yield stood at 5.49%, as of May 20.

The number of hedge funds tracked by Insider Monkey having stakes in AT&T Inc. (NYSE:T) increased to 70 in Q4 2021, up from 66 in the previous quarter. These stakes hold a consolidated value of roughly $5 billion, compared with $3.2 billion worth of stakes held by hedge funds in Q3 2021.

In April, Goldman Sachs initiated its coverage of AT&T Inc. (NYSE:T) with a $23 price target and a Buy rating. The firm appreciated a 5.5% dividend yield and its communication-focused business model. In Q1 2022, AT&T Inc. (NYSE:T) represented 0.42% of Noam Gottesman’s portfolio.

Weitz Investment Management mentioned AT&T Inc. (NYSE:T) in its Q4 2021 investor letter. Here is what the firm has to say:

“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”

You can also take a look at 10 Semiconductor Stocks to Buy Today According to Billionaire Ken Fisher and 10 Best Vanguard ETFs to Invest In

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