Billionaire Ken Fisher’s Top 5 Dividend Stock Picks

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1. Apple Inc. (NASDAQ:AAPL)

Fisher Asset Management’s Stake Value: $8,632,520,000
Dividend Yield as of May 16: 0.56%

Apple Inc. (NASDAQ:AAPL) was the largest holding of Fisher Asset Management at the end of Q1 2023. The hedge fund owned over 52 million shares in the company, worth over $8.6 billion. The company constituted 5.22% of the firm’s 13F portfolio.

On May 4, Apple Inc. (NASDAQ:AAPL) declared a 4.3% hike in its quarterly dividend. This marked the company’s tenth consecutive year of dividend growth, which makes it one of the best dividend stocks on our list. The stock has a dividend yield of 0.56%, as of May 16.

At the end of Q4 2022, Apple Inc. (NASDAQ:AAPL) was a part of 135 hedge funds, as per Insider Monkey’s database. The stakes owned by these funds have a total value of over $136 billion.

RiverPark Advisors mentioned Apple Inc. (NASDAQ:AAPL) in its Q1 2023 investor letter. Here is what the firm has to say:

“Apple Inc. (NASDAQ:AAPL): Apple shares were our final top contributor for the quarter. While the company reported a rare quarterly earnings miss, investors had expected slower sales due to macro headwinds. Services continue to be a bright spot for the company with an all-time high of $21 billion in quarterly revenue, a 6% year-over-year increase, and management expects iPhone revenue growth to re-accelerate in 2Q. Operating Cash Flow was $34 billion for the quarter, and the company returned $23 billion to shareholders in the last three months, including $4 billion in dividends and $19 billion in share repurchases.

With an installed base of 2 billion active devices and significant growth of the company’s recurring revenue Services segment (now 18% of revenue), we believe that Apple remains one of the most innovative, best-positioned and most profitable companies in the mobile technology industry.”

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