5 Best Dividend Stocks to Buy According to Thomas Bailard’s Hedge Fund

3. The Procter & Gamble Company (NYSE:PG)

Bailard Inc.’s Stake Value: $23,045,000

The Procter & Gamble Company (NYSE:PG) is an Ohio-based multinational consumer goods company that provides a wide range of personal care and hygiene products. The company holds one of the strongest dividend histories, offering dividends to shareholders for the past 132 years. Moreover, in 2022, it extended its dividend growth streak to 66 years. The company pays a quarterly dividend of $0.9133 per share, with a yield of 2.65%, as of August 31.

In Q2 2022, Bailard Inc. owned 160,268 shares in The Procter & Gamble Company (NYSE:PG), after raising its position by 8%. The hedge fund’s total stake in the company stood at over $23 million, which accounted for 0.9% of its 13F portfolio.

Following the company’s fiscal Q4 earnings report, Barclays reiterated its Overweight rating on the stock in August and mentioned that its business model is more defensive in this economic cycle.

Ray Dalio’s Bridgewater Associates owned stakes worth over $970 million in The Procter & Gamble Company (NYSE:PG), becoming its largest stakeholder in Q2. Overall, 71 hedge funds tracked by Insider Monkey presented a bullish stance on the company in Q2, with stakes valued at over $5.5 billion.