Billionaire Ken Fisher’s Top 5 Dividend Stock Picks

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

Fisher Asset Management’s Stake Value: $2,253,772,000
Dividend Yield as of November 16: 2.41%

The Home Depot, Inc. (NYSE:HD) is a Georgia-based multinational home improvement retail company that sells various related tools and products. Piper Sandler called the company’s recent quarterly earnings ‘solid’, highlighting the company’s sale trends and double-digit growth across its various sectors. In view of this, the firm maintained a Neutral rating on the stock in November with a $323 price target.

The Home Depot, Inc. (NYSE:HD) has been raising its dividends consistently for the past 12 years, which places it as one of the best dividend stocks on our list. The company currently pays $1.90 per share in quarterly dividends and has a yield of 2.41%, as of November 16.

Fisher Asset Management has been investing in The Home Depot, Inc. (NYSE:HD) since the first quarter of 2012. At the end of Q3 2022, the hedge fund owned over 8.1 million HD shares, worth over $2.25 billion. The company constituted 1.68% of billionaire Ken Fisher’s portfolio.

The number of hedge funds tracked by Insider Monkey owning stakes in The Home Depot, Inc. (NYSE:HD) grew to 80 in Q2 2022, from 75 in the preceding quarter. The collective value of these stakes is over $5.3 billion.

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

“The Home Depot, Inc. (NYSE:HD) shares were more resilient in Q3 as the company continues to perform well and reiterated guidance despite increasing market concerns regarding general inflationary pressures and the impact rising mortgage rates may have on the housing market. We view the longterm prospects and multi-year fundamental outlook as unchanged. Home improvement through repair and remodel is likely to be one of more resilient housing-related industries given the relative attractiveness for consumers to renovate existing homes rather than reset their current low fixed mortgage rate to higher rates that we’re seeing today.”

Follow Home Depot Inc. (NYSE:HD)

You can also take a look at Ken Fisher Stock Portfolio: Top 10 Stock Picks and 10 Stocks Ray Dalio and Insiders Are Piling Into

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