5 Best Dow Jones Dividend Stocks According to Hedge Funds

In this article, we discuss 5 best Dow Jones dividend stocks according to hedge funds. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read 12 Best Dow Jones Dividend Stocks According to Hedge Funds. 

5. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Johnson & Johnson (NYSE:JNJ) is an American multinational healthcare company that operates in various sectors of the healthcare industry. On October 19, the company declared a quarterly dividend of $1.19 per share, which was in line with its previous dividend. The company is a dividend aristocrat with 61 consecutive years of dividend growth under its belt. The stock has a dividend yield of 3.14%, as of October 25.

At the end of Q2 2023, 88 hedge funds tracked by Insider Monkey reported having stakes in Johnson & Johnson (NYSE:JNJ), up from 86 in the previous quarter. The consolidated value of these stakes is over $4.1 billion. Among these hedge funds, Bridgewater Associates was the company’s leading stakeholder in Q2.

4. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 111

UnitedHealth Group Incorporated (NYSE:UNH) is one of the largest and most diversified healthcare companies in the world. The company offers a quarterly dividend of $1.88 per share and has a dividend yield of 1.42%, as of October 25. It has been rewarding shareholders with growing dividends for 13 consecutive years, which makes it one of the best dividend stocks on our list.

As of the end of Q2 2023, 111 hedge funds tracked by Insider Monkey owned stakes in UnitedHealth Group Incorporated (NYSE:UNH), down from 116 in the previous quarter. The total worth of these stakes is over $10.1 billion.

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

An American multinational tech giant, Apple Inc. (NASDAQ:AAPL) was a part of 131 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey’s database. The stakes owned by these funds have a total value of $194 billion.

Apple Inc. (NASDAQ:AAPL) has always remained committed to its shareholder return as it paid nearly $24 billion to shareholders through dividends during its most recent quarter. The company’s quarterly dividend stands at $0.24 per share and has a dividend yield of 0.56%, as recorded on October 25.

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 171

Visa Inc. (NYSE:V) is next on our list of the best dividend stocks from Dow. The global financial tech company declared a 15.6% hike in its quarterly dividend to $0.52 per share. This stretched the company’s dividend growth streak to 15 years. The stock’s dividend yield on October 25 came in at 0.76%.

According to Insider Monkey’s database of Q2 2023, 171 hedge funds owned stakes in Visa Inc. (NYSE:V), down from 173 in the previous quarter. The consolidated value of these stakes is roughly $25 billion. With over 17.7 million shares, TCI Fund Management was the company’s leading stakeholder in Q2.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 300

Microsoft Corporation (NASDAQ:MSFT) is a multinational technology company with a diverse range of products and services. The company has a strong dividend growth history of 17 consecutive years. It currently pays a quarterly dividend of $0.75 per share and has a dividend yield of 0.89%, as of October 25.

Of the 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 300 funds held stakes in Microsoft Corporation (NASDAQ:MSFT), up from 289 in the previous quarter. These stakes are collectively valued at roughly $70 billion.

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