5 Best Income Stocks To Invest In

1. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 82

Dividend Yield as of October 19: 4.72%

Citigroup Inc. (NYSE:C), a New York-based diversified financial services holding company, is one of the premier income stocks to monitor. On October 14, Citigroup Inc. (NYSE:C) posted a Q3 non-GAAP EPS of $1.50 and a revenue of $18.51 billion, outperforming Wall Street consensus by $0.05 and $230 million, respectively. The revenue rose 6.1% year-over-year due to restructuring moves. Citigroup Inc. (NYSE:C)’s dividend yield as of October 19 stood at 4.72%. 

BMO Capital analyst James Fotheringham on October 17 reaffirmed an Outperform rating on Citigroup Inc. (NYSE:C) and lowered the price target on the shares to $71 from $76. The company posted “mixed” Q3 results with resilient performance across Services, Branded Cards, and Retail Services being offset by softer results in Investment Banking, Trading, and Global Wealth segments, the analyst told investors in a research note. However, the analyst contended that the resumption of share repurchases by the end of the third quarter is a potential positive catalyst for Citigroup Inc. (NYSE:C).

Among the hedge funds tracked by Insider Monkey, 82 funds reported owning stakes worth $7.4 billion in Citigroup Inc. (NYSE:C) at the end of Q2 2022, compared to 88 funds in the last quarter worth $8.1 billion. Warren Buffett’s Berkshire Hathaway is the largest position holder in the company, with more than 55 million shares valued at $2.5 billion. 

Diamond Hill Capital mentioned Citigroup Inc. (NYSE:C) in its Q1 2022 investor letter. Here is what the firm has to say:

“Shares of Citigroup declined in the quarter as investors became increasingly negative on capital markets activity. The company is also continuing to divest certain consumer banking geographies which may be dilutive to earnings in the near term.”

You can also take a look at 10 Best Video Game Stocks To Buy and 12 Best Fortune 500 Dividend Stocks To Buy.

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