5 Best NASDAQ Dividend Stocks To Buy

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 132

NVIDIA Corporation (NASDAQ:NVDA) is a multinational technology company that specializes in designing and manufacturing graphics processing units (GPUs) and related software. It ranks second on our list of the best dividend stocks and pays a quarterly dividend of $0.04 per share. The stock has a dividend yield of 0.04%, as of July 6.

NVIDIA Corporation (NASDAQ:NVDA) experienced a positive hedge fund sentiment in Q1 2023, as 132 hedge funds tracked by Insider Monkey owned stakes in the company, up from 106 in the previous quarter.

The Ithaka Group mentioned NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter. Here is what the firm has to say:

“NVIDIA Corporation (NASDAQ:NVDA) is the market leader in visual computing through the production of high-performance graphics processing units (GPUs). The company targets four large and growing markets: Gaming, Professional Visualization, Data Center, and Automotive. NVIDIA’s products have the potential to lead and disrupt some of the most exciting areas of computing, including: data center acceleration, artifi cial intelligence, machine learning, and autonomous driving. The stock’s appreciation in the quarter was twofold. First, the stock benefi ted from tremendous excitement surrounding the release of more advanced chatbots, specifi cally ChatGPT, and the likelihood this would necessitate the purchase of a large number of Nvidia’s products far into the future. Second, Nvidia posted a clean beat and raise quarter in mid-February, with investors becoming increasingly convinced the company and its suppliers are adequately working through the build up in channel inventories, which is reducing overall fears of ongoing inventory write-offs.”