5 Best Large Cap Dividend Stocks to Buy According to Hedge Funds

1. Microsoft Corporation (NASDAQ: MSFT)

Number of Hedge Fund Holders: 251
Dividend Yield: 0.8%

Microsoft Corporation (NASDAQ: MSFT) is an information technology company that develops and supports software, services, and devices across the world. Some of its offered products include Microsoft Office, SharePoint, Microsoft Teams, Skype for Business, and OneDrive. It ranks 1st on our list of the best large cap dividend stocks to buy according to hedge funds.

This July, Mizuho raised its price target on Microsoft Corporation (NASDAQ: MSFT) shares from $285 to $310, keeping a Buy rating on the stock. Analyst Gregg Moskowitz also commented that companies working to enable digitizations are currently leading the tech and software sectors.

In the fiscal third quarter of 2021, Microsoft Corporation (NASDAQ: MSFT) had an EPS of $1.95, beating estimates by $0.17. The company’s revenue was $41.71 billion, up 19.09% year over year and beating estimates by $852.09 million. Microsoft Corporation (NASDAQ: MSFT) has also gained about 24.16% in the past 6 months and 28.31% year to date.

By the end of the first quarter of 2021, 251 hedge funds out of the 866 tracked by Insider Monkey held stakes in Microsoft Corporation (NASDAQ: MSFT) worth roughly $58.9 billion. This is compared to 258 hedge funds in the previous quarter with stakes worth approximately $52.8 billion.

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