5 Blue Chip Dividend Stocks to Buy After the Market Selloff

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 258
Dividend Yield as of September 13: 0.93%

Microsoft Corporation (NASDAQ:MSFT) is a leading developer of personal computer software systems and applications. It was the most popular company among elite funds in Q2 2022, as 258 hedge funds in Insider Monkey’s database owned stakes in the company, compared with 259 in the previous quarter. These stakes hold a consolidated value of over $56 billion.

Microsoft Corporation (NASDAQ:MSFT) is also #1 on our list of 5 and 10 Blue Chip Dividend Stocks to Buy After the Market Selloff.

Microsoft Corporation (NASDAQ:MSFT) has raised its dividend consistently for the past 17 years and grew its payouts at a CAGR of 9.71% in the past five years. It pays a quarterly dividend of $0.62 per share, with a dividend yield of 0.93%, as of September 13.

Following the company’s strong quarterly earnings, Wedbush maintained its Outperform rating on Microsoft Corporation (NASDAQ:MSFT) in July. The firm acknowledged the growth in the company’s commercial bookings.

Baron Funds mentioned Microsoft Corporation (NASDAQ:MSFT) in its Q2 2022 investor letter. Here is what the firm has to say:

“Shares of Microsoft Corporation, a leading global provider of software solutions, declined 16.6% in the quarter along with the broader software group as well as due to growing concerns of a potential macro-driven slowdown. This is despite the company posting strong quarterly financial results and successfully absorbing headwinds from the war in Ukraine. The company had 21% revenue growth, 23% operating income growth, and 35% growth in Microsoft Cloud (all year-over-year in constant currency), which now represents 47% of total revenues.

As discussed above, we continue to believe Microsoft remains a durable and growing business as companies across all industries look to digitally transform, taking advantage of the continuously expanding solution set Microsoft has to offer.”

You can also take a look at 10 Large-Cap Dividend Stocks with Over 5% Yield and 10 Best Blue Chip Dividend Stocks to Buy in August

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