Billionaire Ken Fisher’s Top 5 Dividend Growth Stock Picks

1. The Home Depot, Inc. (NYSE:HD)

Fisher Asset Management’s Stake Value: $2,617,777,000
Dividend Yield as of February 16: 2.37%
Consecutive Years of Dividend Growth: 12

The Home Depot, Inc. (NYSE:HD) is a Georgia-based home improvement company. The company pays a quarterly dividend of $1.90 per share and has a dividend yield of 2.37%, as of February 16. It has been raising its dividends consistently for the past 12 years, which makes it one of the top dividend growth stock picks of Ken Fisher.

At the end of Q4 2022, Fisher Asset Management lifted its position in The Home Depot, Inc. (NYSE:HD) by 2%, which takes its total stake in the company to over $2.6 billion. The company represented 1.76% of the firm’s 13F portfolio.

At the end of September, 89 hedge funds in Insider Monkey’s database owned stakes in The Home Depot, Inc. (NYSE:HD), growing from 80 in the previous quarter. These stakes are collectively valued at over $5.6 billion. With over 8 million shares, Fisher Asset Management was the company’s leading stakeholder in Q3.

Matrix Asset Advisors mentioned The Home Depot, Inc. (NYSE:HD) in its Q3 2022 investor letter. Here is what the firm has to say:

“During the quarter, we re-established a position in The Home Depot, Inc. (NYSE:HD) sold earlier this year, after the shares declined sharply on big picture concerns about a softer housing market and lower consumer spending. We believe that HD is a very well-managed company, positioned to continue showing good profits even as the economy decelerates. The products it carries in inventory are in year-round demand from contractors and homeowners wanting to maintain and improve their homes. The company has historically been shareholder friendly, repurchasing shares and increasing the dividend, most recently by 15% earlier this year. On September 30, HD’s current dividend yield was 2.8%.”

You can also take a look at Early Retirement Portfolio: 15 Stocks to Live Off Dividends and Value Investor Joel Greenblatt’s Dividend Stocks

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