In this article, we will be looking at the 5 best large cap dividend stocks to buy according to hedge funds. If you want to see our detailed analysis of large-cap stocks, and dividend investing, go directly to the 10 Best Large Cap Dividend Stocks to Buy According to Hedge Funds.
5. JPMorgan Chase & Co. (NYSE: JPM)
Number of Hedge Fund Holders: 111
Dividend Yield: 2.6%
JPMorgan Chase & Co. (NYSE: JPM) is a global financial services company. It provides consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management services. The company ranks 5th on our list of the best large cap dividend stocks to buy according to hedge funds.
This July, Credit Suisse analyst Susan Roth Katzke and BMO Capital analyst James Fotheringham both raised price targets on JPMorgan Chase & Co. (NYSE: JPM) shares from $170 to $177 and $136 to $141 respectively. Credit Suisse kept its Outperform rating on JPMorgan Chase & Co. (NYSE: JPM) shares while BMO Capital retained its Market Perform rating.
In the second quarter of 2021, JPMorgan Chase & Co. (NYSE: JPM) had an EPS of $3.78, beating estimates by $0.62. The company’s revenue was $30.48 billion, also beating estimates by $762.45 million. JPMorgan Chase & Co. (NYSE: JPM) has gained 11.04% in the past 6 months and 18.94% year to date.
By the end of the first quarter of 2021, 111 hedge funds out of the 866 tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE: JPM) worth roughly $5.25 billion. This is compared to 112 hedge funds in the previous quarter with stakes worth approximately $6.96 billion.
4. Apple Inc. (NASDAQ: AAPL)
Number of Hedge Fund Holders: 127
Dividend Yield: 0.6%
Apple Inc. (NASDAQ: AAPL) is an information technology company renowned for its successful iPhone and Mac product lines. It manufactures and markets smartphones, computers, tablets, wearables, and accessories across the globe, and ranks 4th on our list of the best large cap dividend stocks to buy according to hedge funds.
This July, UBS analyst David Vogt raised the price target on Apple Inc. (NASDAQ: AAPL) shares to $166, reiterating a Buy rating as well. Vogt has also raised his Q3 EPS and revenue estimates for Apple Inc. (NASDAQ: AAPL) to $1.01 and $74.7 billion respectively.
In the fiscal second quarter of 2021, Apple Inc. (NASDAQ: AAPL) had an EPS of $1.40, beating estimates by $0.41, and its revenue was $89.58 billion, up 53.63% year over year and beating estimates by $12.30 billion. Apple Inc. (NASDAQ: AAPL) has also gained about 6.78% in the past 6 months and 12.94% year to date.
By the end of the first quarter of 2021, 127 hedge funds out of the 866 tracked by Insider Monkey held stakes in Apple Inc. (NASDAQ: AAPL) worth roughly $130.9 billion. This is compared to 146 hedge funds in the previous quarter with stakes worth approximately $142 billion.
3. Mastercard Incorporated (NYSE: MA)
Number of Hedge Fund Holders: 151
Dividend Yield: 0.5%
Mastercard Incorporated (NYSE: MA) is a tech company working to provide transaction processing and related products and services across the globe. The company aids the processing of monetary transactions and ranks 3rd on our list of the best large cap dividend stocks to buy according to hedge funds.
This July, Mastercard Incorporated (NYSE: MA) was added to the Tactical Outperform List at Evercore ISI by analyst David Togut, alongside its addition to Togut’s 2021 Top Payments Picks List. Evercore ISI has an Outperform rating on Mastercard Incorporated (NYSE: MA) shares alongside a $439 price target as well.
In the first quarter of 2021, Mastercard Incorporated (NYSE: MA) had an EPS of $1.74, beating estimates by $0.18. The company’s revenue was $4.16 billion, up 3.64% year over year and beating estimates by $163.07 million. Mastercard Incorporated (NYSE: MA) has also gained 11.95% in the past 6 months and 6.52% year to date.
By the end of the first quarter of 2021, 151 hedge funds out of the 866 tracked by Insider Monkey held stakes in Mastercard Incorporated (NYSE: MA) worth roughly $17.09 billion. This is compared to 154 hedge funds in the previous quarter with stakes worth approximately $17.9 billion.
2. Visa Inc. (NYSE: V)
Number of Hedge Fund Holders: 164
Dividend Yield: 0.5%
Visa Inc. (NYSE: V) is a payments technology company operating across the globe to aid digital payments through platforms like VisaNet. The company ranks 2nd on our list of the best large cap dividend stocks to buy according to hedge funds.
This July, Evercore ISI analyst David Togut also added Visa Inc. (NYSE: V) to the firm’s Tactical Outperform List and to his own 2021 Top Payments Picks List. Togut and Evercore ISI also have an Outperform rating on Visa Inc. (NYSE: V) shares alongside a $286 price target.
In the fiscal second quarter of 2021, Visa Inc. (NYSE: V) had an EPS of $1.38, beating estimates by $0.11. The company’s revenue was $5.73 billion, also beating estimates by $175.03 million. Visa Inc. (NYSE: V) has gained about 18.31% in the past 6 months and 11.45% year to date as well.
By the end of the first quarter of 2021, 164 hedge funds out of the 866 tracked by Insider Monkey held stakes in Visa Inc. (NYSE: V) worth roughly $26.5 billion. This is compared to 166 hedge funds in the previous quarter with stakes worth approximately $23.5 billion.
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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