In this article, we discuss 5 best value dividend stocks billionaires are crazy about. If you want to read our detailed analysis of value stocks and the past performance of dividend stocks, go directly to read 10 Best Value Dividend Stocks Billionaires Are Crazy About.
5. Bank of America Corporation (NYSE:BAC)
Number of Billionaire Investors: 17
P/E Ratio as of December 8: 8.59
Bank of America Corporation (NYSE:BAC) is one of the largest financial institutions in the US, offering a broad range of banking and financial services to individual consumers, small businesses, corporations, and institutional clients globally. The company has been paying uninterrupted dividends to shareholders for the past 24 years and it offers a quarterly dividend of $0.24 per share. The stock has a dividend yield of 3.11%, as of December 8.
At the end of Q3 2023, 88 hedge funds in Insider Monkey’s database reported having stakes in Bank of America Corporation (NYSE:BAC), compared with 90 in the preceding quarter. The consolidated value of these stakes is more than $31.3 billion. Warren Buffett and Ken Fisher were the most notable billionaires who invested in the company in Q3.
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4. Bristol-Myers Squibb Company (NYSE:BMY)
Number of Billionaire Investors: 18
P/E Ratio as of December 8: 12.73
Bristol-Myers Squibb Company (NYSE:BMY) is an American pharmaceutical industry company that operates in various therapeutic areas, including oncology, immunology, cardiovascular diseases, and fibrosis. On December 6, the company announced a 5.3% hike in its quarterly dividend to $0.60 per share. This marked the company’s 18th consecutive year of dividend growth, which makes BMY one of the best dividend stocks on our list. The stock has a dividend yield of 4.54%, as of December 8.
Insider Monkey’s database of Q3 2023 showed that 65 hedge funds owned stakes in Bristol-Myers Squibb Company (NYSE:BMY), compared with 66 in the previous quarter. The consolidated value of stakes owned by these hedge funds is over $1.8 billion. D. E. Shaw and Israel Englander were some of the most prominent billionaires owning stakes in the company.
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3. Cisco Systems, Inc. (NASDAQ:CSCO)
Number of Billionaire Investors: 19
P/E Ratio as of December 8: 14.58
An American multinational tech company, Cisco Systems, Inc. (NASDAQ:CSCO) is next on our list of the best dividend stocks. The company offers a quarterly dividend of $0.39 per share and has a dividend yield of 3.23%, as of December 8. It holds a 16-year track record of consistent dividend growth.
The number of hedge funds tracked by Insider Monkey owning stakes in Cisco Systems, Inc. (NASDAQ:CSCO) grew to 64 in Q3 2023, from 55 in the preceding quarter. The collective value of these stakes is over $1.6 billion. Billionaires Cliff Asness and Ken Griffin were the company’s most prominent stakeholders in Q3.
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2. The Cigna Group (NYSE:CI)
Number of Billionaire Investors: 19
P/E Ratio as of December 8: 14.56
The Cigna Group (NYSE:CI) is a global health services company that operates across various segments of the healthcare industry. The company has been growing its dividends consistently for the past three years and currently offers a quarterly dividend of $1.23 per share. The stock’s dividend yield on December 8 came in at 1.92%.
At the end of September 2023, 74 hedge funds tracked by Insider Monkey owned investments in The Cigna Group (NYSE:CI), the same as in the previous quarter. The total value of these stakes is over $2.84 billion. Ray Dalio and Cliff Asness were the most prominent billionaires owning stakes in the company.
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1. Chevron Corporation (NYSE:CVX)
Number of Billionaire Investors: 19
P/E Ratio as of December 8: 10.57
Chevron Corporation (NYSE:CVX) tops our list of the best dividend stocks. The American energy company has raised its dividends for 36 years in a row and offers a quarterly dividend of $1.51 per share. As of December 8, the stock has a dividend yield of 4.19%.
At the end of the September quarter of 2023, 72 hedge funds held stakes in Chevron Corporation (NYSE:CVX), compared with 73 in the previous quarter. The overall value of these stakes is over $21.4 billion. Billionaire Warren Buffett remained the company’s most prominent stakeholder in Q3.
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You can also take a look at 10 Cheap Dividend Stocks with High Yields and 11 Cash-Rich Stocks to Buy According to Hedge Funds
