5 Best Dividend Stocks to Buy in August According to Hedge Funds

2. Morgan Stanley (NYSE: MS)

Number of Hedge Fund Holders: 79
Dividend Yield: 2.9%

Morgan Stanley (NYSE: MS) is an investment banking and brokerage company offerings a range of financial products and services to corporations, governments, institutions and individuals in the US, Europe, the Middle East, Africa, and Asia. The company ranks 2nd on our list of the best dividend stocks to buy in August according to hedge funds.

Morgan Stanley (NYSE: MS) shares witnessed a series of price target upgrades this July, with one from Oppenheimer’s Chris Kotowski being among the many. Kotowski raised his target on shares of Morgan Stanley (NYSE: MS) from $99 to $105, while also reiterating an Outperform rating on the stock and commenting after the company’s Q2 beat that it is “firing on all cylinders.”

In the second quarter of 2021, Morgan Stanley (NYSE: MS) had an EPS of $1.89, beating estimates by $0.23. The company’s revenue was $14.76 billion, up 10.03% year over year and also beating estimates by $763.58 million. Morgan Stanley (NYSE: MS) has also gained 35.53% in the past 6 months and 47.43% year to date.

By the end of the first quarter of 2021, 79 hedge funds out of the 866 tracked by Insider Monkey held stakes in Morgan Stanley (NYSE: MS) worth roughly $5.29 billion. This is compared to 66 hedge funds in the previous quarter with a total stake value of approximately $5.67 billion.