5 Technology Dividend Stocks Billionaires Are Loading Up On

3. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Billionaire Investors: 19
Number of Hedge Fund Holders: 84

Applied Materials, Inc. (NASDAQ:AMAT) is a California-based company that offers services and software for manufacturing semiconductor chips. Needham lifted its price target on the stock to $140 in May and kept a Buy rating on the shares, appreciating the company’s earnings beat.

Applied Materials, Inc. (NASDAQ:AMAT) currently pays a quarterly dividend of $0.32 per share, having raised it by 23% in March. This marked the company’s sixth consecutive year of dividend growth. The stock has a dividend yield of 0.95%, as of June 3.

Applied Materials, Inc. (NASDAQ:AMAT) experienced a positive hedge fund sentiment in Q1 2023, with 84 hedge fund positions, up from 70 in the previous quarter, according to Insider Monkey’s data. The total value of stakes owned by these hedge funds came in at $4.4 billion. With over 2.7 million shares, billionaire John Armitage’s Egerton Capital Limited was one of the company’s leading stakeholders in Q1.