5 Dividend Stocks to Buy According to Billionaire Ken Fisher

1. American Express Company (NYSE:AXP)

Fisher Asset Management’s Stake Value: $2,933,385,000
Dividend Yield as of June 15: 1.44%
Number of Hedge Fund Holders: 69

American Express Company (NYSE:AXP) is a multinational credit card services company that offers financial and travel-related services to consumers in over 110 countries. In May, the company reported strong credit card metrics, with consumer card total loans of roughly $63 billion, up from $60.5 billion in April 2022.

Fisher Asset Management started investing in American Express Company (NYSE:AXP) during the third quarter of 2012, purchasing over 11.6 million shares, worth $660 million. At the end of Q1 2022, the hedge fund owned nearly 15.7 million AXP shares, valued at roughly $3 billion. The company was the tenth-largest holding of the hedge fund, accounting for 1.73% of its 13F portfolio.

American Express Company (NYSE:AXP) currently offers a quarterly dividend of $0.52 per share. The company has been raising its dividends consecutively for the past 30 years, with its 5-year dividend CAGR standing at 7.68%. As of June 15, the stock’s dividend yield was recorded at 1.44%.

On June 6, Edward Jones upgraded American Express Company (NYSE:AXP) to Buy, noting that the company’s loyal customer base will be less affected by inflationary pressures, due to which AXP is in a better position to sustain spending trends.

At the end of Q1 2022, 69 hedge funds tracked by Insider Monkey presented a bullish stance on American Express Company (NYSE:AXP), up from 64 in the previous quarter. These stakes hold a collective value of over $33.1 billion. With 151.6 million shares valued at $28.3 billion, Berkshire Hathaway was the company’s leading shareholder at the end of March 2022.

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