Billionaire Ken Fisher Loves These Dividend Stocks

Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM)

– Shares Owned by Fisher Asset Management (as of September 30): 28.82 million

– Value of Fisher Asset Management’s Holding (as of September 30): $881.76 million

– Dividend Yield: 3.02%

Fisher Asset Management maintained a large position in Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) even though it disposed of 416,394 shares of the company during the third quarter. The company recently upped its revenue estimates for 2016 revenue, primarily due to an expected boost in iPhone 7 sales amid Samsung Galaxy Note 7 debacle. The contract chipmaker now expects 11%-12% revenue growth this year, compared to the previous 5%-10% forecast. For the third quarter, Taiwan Semiconductor reported a net profit of T$96.8 billion ($3.08 billion), blowing past analysts’ estimates of T$95.2 billion. Last week, Pacific Crest upgraded Taiwan Semiconductor to ‘Sector Weight’ from ‘Underperform’ due to improved margins outlook and reduced competition. At the end of the second quarter, 26 funds tracked by Insider Monkey were long Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM).

Wells Fargo & Co (NYSE:WFC)

– Shares Owned by Fisher Asset Management (as of September 30): 18.19 million

– Value of Fisher Asset Management’s Holding (as of September 30): $805.45 million

– Dividend Yield: 3.37%

Ken Fisher’s hedge fund sold about 4% of its stake in Wells Fargo & Co (NYSE:WFC) during the third quarter ending it with 18.19 million shares of the company. On Wednesday, Los Angeles Times reported that The California Attorney General’s Office had launched a criminal investigation against Wells Fargo over allegations that it opened millions of unauthorized customer accounts and credit cards. The California-based financial services company reported a third-quarter EPS of $1.08, above the analysts’ estimates of $1.01, while revenue of $22.3 billion was also better than the estimates of $22.22 billion. A total of 88 funds tracked by us owned shares of Wells Fargo & Co (NYSE:WFC) at the end of the second quarter.

Procter & Gamble Co (NYSE:PG)

– Shares Owned by Fisher Asset Management (as of September 30): 8.1 million

– Value of Fisher Asset Management’s Holding (as of September 30): $727.28 million

– Dividend Yield: 3.18%

Fisher Asset Management acquired 9,569 shares of Procter & Gamble Co (NYSE:PG) during the third quarter. The Ohio-based consumer goods company will report fiscal 2017 first-quarter results next week and analysts estimate EPS of $0.98 on revenue of $16.48 billion. In the fourth quarter, Procter & Gamble earned $0.79 per share on revenue of $16.1 billion topping the consensus estimates of $0.74 and $15.83 billion, respectively. For full fiscal 2017, Procter & Gamble expects EPS of $3.67, versus the consensus of $3.96. The stock is up over 6.6% year-to-date and has a dividend yield of 3.18%. A total of 56 funds in our database held stakes in Procter & Gamble Co (NYSE:PG) at the end of the June quarter.

Disclosure: none