5 Dividend Stocks to Buy According to Billionaire Stanley Druckenmiller’s Duquesne Capital

1. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 70
Dividend Yield as of September 8: 1.26%

Eli Lilly and Company (NYSE:LLY) is an American pharmaceutical company that has operations in 18 countries and sells its products in over 125 countries. The company was a popular buy among elite funds in Q2 2022, as 70 hedge funds tracked by Insider Monkey were bullish on it, compared with 53 in the previous quarter. These stakes hold a collective value of over $6.7 billion.

Eli Lilly and Company (NYSE:LLY) was the recent holding of Duquesne Capital, as the hedge fund opened its position in the company with 297,150 shares. The fund’s total stake in the company amounted to over $96.3 million, which represented 6.97% of its 13F portfolio.

Eli Lilly and Company (NYSE:LLY) has consistently paid dividends to shareholders since 1885 and has been raising its payouts for the past 8 consecutive years. It currently pays a quarterly dividend of $0.98 per share, with shares boasting a dividend yield of 1.26%, as of September 8.

In August, Citigroup lifted its price target on Eli Lilly and Company (NYSE:LLY) to $370 with a ‘Buy’ rating on the shares, calling the stock an attractive opportunity in the current economic landscape.

Baron Funds mentioned Eli Lilly and Company (NYSE:LLY) in its Q2 2022 investor letter. Here is what the firm had to say:

“Eli Lilly and Company is a global pharmaceutical company focused on discovering, developing, and selling medicines for patients in the therapeutic areas of diabetes, oncology, immunology, and neuroscience. Stock performance was strong due to positive study results for Eli Lilly’s drug Tirzepatide (subsequently branded Mounjaro), which delivered up to 22.5% weight loss in adults with obesity. We think Tirzepatide is in the early innings of adoption in a large obesity market where penetration of anti-obesity medications is currently low. We continue to think Eli Lilly has a healthy base business with limited near-term patent expirations, a strong pipeline, and potential for significant margin expansion, which should translate to solid revenue and earnings growth over many years.”

You can also take a look at 10 Dividend Stocks to Buy According to Billionaire Paul Tudor Jones’ Tudor Investment Corp and 10 Dividend Stocks to Buy According to Billionaire Carl Icahn’s Icahn Capital LP

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