Dividend Stock Portfolio: 8 Stocks To Invest In According to Reddit

2. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 111

JPMorgan Chase & Co. (NYSE:JPM), an American multinational investment banking company, is popular among Redditors due to the potential for high interest rates to boost bank profitability. In times of elevated interest rates, banks can experience an increase in net interest income, leading to wider net interest rate margins. The stock has proven to be a profitable choice, delivering nearly 250% returns over the past decade, outpacing the broader market’s 187% return during the same timeframe.

JPMorgan Chase & Co. (NYSE:JPM) remains committed to substantial investments in its operations to drive long-term growth and profitability. It maintains a robust balance sheet, positioning itself to navigate different economic scenarios. In the second quarter of 2024, the company achieved revenue of $50.2 billion, reflecting a 22% increase compared to the same quarter last year. Additionally, it recorded a 15% rise in assets under management (AUM), totaling $3.7 trillion.

On September 17, JPMorgan Chase & Co. (NYSE:JPM) declared an 8.7% hike in its quarterly dividend to $1.25 per share. This was the company’s second dividend increase this year. It is one of the best companies for a dividend stock portfolio as it returned $3.3 billion to shareholders through dividends in the most recent quarter. JPM has a healthy dividend yield of 2.18%, as recorded on September 21.

Insider Monkey’s database of Q2 2024 indicated that 111 hedge funds held stakes in JPMorgan Chase & Co. (NYSE:JPM), compared with 112 in the previous quarter. These stakes have a consolidated value of nearly $7 billion.