5 Technology Dividend Stocks Billionaires Are Loading Up On

In this article, we discuss 5 technology dividend stocks billionaires are loading up on. If you want to read our detailed analysis of the tech sector and dividend stocks, go directly to read 10 Technology Dividend Stocks Billionaires Are Loading Up On.

5. Micron Technology, Inc. (NASDAQ:MU)

Number of Billionaire Investors: 16
Number of Hedge Fund Holders: 73

Micron Technology, Inc. (NASDAQ:MU) is an American semiconductor manufacturing company that also provides services in data storage. The company started its dividend policy in 2021 and has paid regular dividends to shareholders since then. It currently pays a quarterly dividend of $0.115 per share and has a dividend yield of 0.67%, as of June 3. MU is grabbing the attention of billionaire investors, including Rajiv Jain and William B. Gray.

In May, BMO Capital raised its price target on Micron Technology, Inc. (NASDAQ:MU) to $80 and maintained an Outperform rating on the shares. The firm appreciated the company’s overall performance and its international exposure.

As of the close of Q1 2023, 73 hedge funds in Insider Monkey’s database owned stakes in Micron Technology, Inc. (NASDAQ:MU), compared with 74 in the previous quarter. These stakes have a collective value of over $2.65 billion.

4. Apple Inc. (NASDAQ:AAPL)

Number of Billionaire Investors: 18
Number of Hedge Fund Holders: 131

Apple Inc. (NASDAQ:AAPL) is another popular technology dividend stock among billionaire investors. The company has been raising its dividends consistently for the past 11 years. It currently pays a quarterly dividend of $0.24 per share and has a dividend yield of 0.53%, as of June 3.

Apple Inc. (NASDAQ:AAPL) also attracted positive ratings from Wall Street analysts in view of its growing sales. In June, both Morgan Stanley and Jefferies raised their price targets on the stock to $190 and $210, respectively.

Apple Inc. (NASDAQ:AAPL) was a part of 131 hedge fund portfolios at the end of Q1 2023, as per Insider Monkey’s database. These stakes are collectively worth over $165.2 billion. Billionaires Warren Buffett and Ken Griffin were some of the company’s leading stakeholders in Q1.

Here’s what Fred Alger Management said about Apple Inc. (NASDAQ:AAPL) in its Q1 2023 investor letter:

“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications, computing, and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives particularly tight engagement with consumers and enterprises, which is fostering the growing purchase of high margin services like music, apps, and Apple Pay. While iPhone sales were down year-over-year (YoY). services revenues grew 7% YoY which was slightly above analyst estimates. Company earnings were also better-than-anticipated due to lower input costs, such as memory chips and cost control initiatives. Aside from production disruptions, negative sentiment had also weighed on shares as investors questioned how an economic slowdown would affect consumer demand for Apple products in 2023. However, management projected an acceleration in earnings for the fiscal first quarter, where they noted that iPhone and services growth should remain strong, along with encouraging impacts around product mix, lower input costs, and continued cost controls.”

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.

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Billionaire Investors: 22
Number of Hedge Fund Holders: 132

NVIDIA Corporation (NASDAQ:NVDA) saw a spike in hedge fund positions in Q1 2023. According to Insider Monkey’s database, 132 hedge funds owned stakes in the company in Q1, up from 106 in the previous quarter. The total stake value is over $12.3 billion. Some of the notable billionaires having stakes in the company include Philippe Laffont and Rajiv Jain.

NVIDIA Corporation (NASDAQ:NVDA) pays a quarterly dividend of $0.04 per share and has a dividend yield of 0.04%.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Billionaire Investors: 33
Number of Hedge Fund Holders: 289

One of the world’s leading tech companies, Microsoft Corporation (NASDAQ:MSFT) tops our list of the technology dividend stocks popular among billionaires. Chris Hohn, Terry Smith, and Ken Griffin were some of the most notable billionaires owning investments in the company. It currently pays a quarterly dividend of $0.68 per share and has a dividend yield of 0.81%, as recorded on June 3. The company has raised its payouts for ten consecutive years.

At the end of Q1 2023, 289 hedge funds tracked by Insider Monkey owned stakes in Microsoft Corporation (NASDAQ:MSFT), up from 259 in the preceding quarter. Their collective stake value came in at roughly $58 billion.

You can also take a look at 15 Best Healthcare Stocks To Buy Now and 11 Best AI ETFs to Invest In 2023

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