In this article, we discuss billionaire Steve Cohen’s top 5 dividend stocks. If you want to see more of billionaire Steve Cohen’s top dividend stocks, go directly to Billionaire Steve Cohen’s Top 10 Dividend Stocks.
5. Analog Devices, Inc. (NASDAQ:ADI)
Point72 Asset Management’s Stake Value as of 9/30: $198,235,000
Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.79%
Dividend Yield as of 11/18: 1.88%
Point72 Asset Management increased its position in integrated circuits maker Analog Devices, Inc. (NASDAQ:ADI) by 149% in Q3 to end the quarter with a position worth almost $200 million. Although the semiconductor industry has experienced headwinds in 2022, Analog Devices, Inc. (NASDAQ:ADI) hasn’t fallen as much as some other big semiconductor stocks with shares down only 7.9% year to date. Analog Devices, Inc. (NASDAQ:ADI) also has a dividend yield of 1.88% as of 11/18.
4. Visa Inc. (NYSE:V)
Point72 Asset Management’s Stake Value as of 9/30: $204,948,000
Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.81%
Dividend Yield as of 11/18: 0.85%
Payments giant Visa Inc. (NYSE:V) was one of the rare top stocks that Point72 Asset Management trimmed in Q3. In the September quarter, billionaire Steve Cohen’s fund cut its position in Visa Inc. (NYSE:V) by 17% to end the third quarter with a stake of around $205 million. Visa Inc. (NYSE:V) has a dividend yield of 0.85% and is down 2.7% year to date.
Baron Funds commented on Visa Inc. (NYSE:V) in its Q3 2022 investor letter,
“Shares of global payment network Visa Inc. (NYSE:V) fell despite reporting financial results that beat Street forecasts and sustained volume growth in recent months. Revenue grew 19% and EPS grew 33% in the most recent quarter, and double-digit payment volume growth persisted through August. Share price weakness represented a reversal of outperformance earlier this year and may be due to foreign exchange headwinds and concerns about a potential weakening of consumer spending. We continue to own the stock due to Visa’s long runway for growth and significant competitive advantages.”
3. Microsoft Corporation (NASDAQ:MSFT)
Point72 Asset Management’s Stake Value as of 9/30: $222,971,000
Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.89%
Dividend Yield as of 11/18: 1.13%
Billionaire Steve Cohen’s fund raised its position in software giant Microsoft Corporation (NASDAQ:MSFT) by 148% to make the stock a top 10 position at the end of Q3. Like other big tech stocks in 2022, Microsoft Corporation (NASDAQ:MSFT) hasn’t done very well this year with its stock down 28.3% year to date. Nevertheless, Microsoft Corporation (NASDAQ:MSFT) has multiple strong businesses in the cloud, enterprise, and operating systems and the company also has a dividend yield of 1.13% as of 11/18.
2. Fidelity National Information Services, Inc. (NYSE:FIS)
Point72 Asset Management’s Stake Value as of 9/30: $251,727,000
Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 1%
Dividend Yield as of 11/18: 3.06%
Although the fintech stock hasn’t done well this year, Point72 Asset Management nevertheless has a substantial stake in Fidelity National Information Services, Inc. (NYSE:FIS) according to 13F filings. As of September 30, billionaire Steve Cohen’s fund had a position worth over $251 million that accounted for 1% of the fund’s total 13F portfolio.
For Q3, Fidelity National Information Services, Inc. (NYSE:FIS) earned $1.74 per share on revenue of $3.6 billion versus estimates of $1.75 per share and sales of $3.61 billion. For the fourth quarter, the company has an outlook for EPS of $1.66-$1.72 versus estimates of $2.07. Given the weak results and lower than expected guidance, Fidelity National Information Services, Inc. (NYSE:FIS) fell to a 52 week low after the Q3 report as a result.
Given the stock’s 43.7% year to date decline, Fidelity National Information Services, Inc. (NYSE:FIS) has a forward P/E ratio of 9 and a dividend yield of 3.06% as of 11/18.
With Point72 Asset Management’s stake, Fidelity National Information Services, Inc. (NYSE:FIS) ranks #2 on our list of Billionaire Steve Cohen’s Top 10 Dividend Stocks.
1. AstraZeneca plc (NASDAQ:AZN)
Point72 Asset Management’s Stake Value as of 9/30: $263,871,000
Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 1.05%
Dividend Yield as of 11/18: 2.92%
With a stake value of over $263 million at the end of September, AstraZeneca plc (NASDAQ:AZN) is one of Point72 Asset Management’s top holdings for Q3.
During the quarter, billionaire Steve Cohen’s fund increased its stake in pharmaceutical giant AstraZeneca plc (NASDAQ:AZN) by 145% to end the quarter with the stock account for 1.05% of the fund’s 13F portfolio. Despite the broader market weakness, AstraZeneca plc (NASDAQ:AZN) shares are up 11.7% year to date as investors expect the company’s earnings per share to increase in the medium term. According to Barron’s, analysts expect AstraZeneca plc (NASDAQ:AZN) to earn $3.31 per share for 2022, $3.69 per share in 2023 and $4.37 per share in 2024. If AstraZeneca plc (NASDAQ:AZN)’s EPS increases as expected, the company’s quarterly dividend of $0.48 per share could increase as well.
Given Point72 Asset Management’s position, AstraZeneca plc (NASDAQ:AZN) ranks #1 on our list of Billionaire Steve Cohen’s Top 10 Dividend Stocks.
You can also take a look at 15 Biggest IT Companies in the World and 15 Biggest Insurance Companies in the World.
