Top 5 Dividend Stocks To Buy According to Billionaires

In this article, we discuss top 5 dividend stocks according to billionaires. If you want to read our detailed analysis of dividend stocks and their previous performance, go directly to read Top 15 Dividend Stocks To Buy According to Billionaires. 

5. Citigroup Inc. (NYSE:C)

Number of Billionaire Investors: 17
Dividend Yield as of December 10: 4.34%

Citigroup Inc. (NYSE:C) is a multinational financial services corporation that operates across various segments within the financial industry. The company currently offers a quarterly dividend of $0.53 per share and has a dividend yield of 4.34%, as of December 10. In its most recent quarter, the company returned $1.5 billion to shareholders through dividends and share repurchases, which makes C one of the best dividend stocks on our list.

At the end of Q3 2023, 79 hedge funds tracked by Insider Monkey owned stakes in Citigroup Inc. (NYSE:C), up from 75 in the preceding quarter. The overall value of these stakes is nearly $7 billion. Warren Buffett and Ken Fisher were the company’s most prominent billionaire stakeholders in Q3.

4. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Billionaire Investors: 18
Dividend Yield as of December 10: 4.77%

An American pharmaceutical industry company, Bristol-Myers Squibb Company (NYSE:BMY) is next on our list of the best dividend stocks. The company has been raising its dividends for 18 consecutive years and it currently pays a quarterly dividend of $0.60 per share. As of December 10, the stock has a dividend yield of 4.77%.

As of the end of the September quarter of 2023, 65 hedge funds in Insider Monkey’s database owned stakes in Bristol-Myers Squibb Company (NYSE:BMY), compared with 66 in the previous quarter. These stakes are worth over $1.8 billion in total. D. E. Shaw and Israel Englander were some of the most prominent billionaires owning stakes in the company.

3. Pfizer Inc. (NYSE:PFE)

Number of Billionaire Investors: 18
Dividend Yield as of December 10: 5.70%

Pfizer Inc. (NYSE:PFE), an American biotech and pharmaceutical company, has been rewarding shareholders with growing dividends for the past 13 years. The company’s quarterly payout comes in at $0.41 per share and has a dividend yield of 5.70%, as recorded on December 10.

Of the 910 hedge funds in Insider Monkey’s database at the end of Q3 2023, 73 funds owned stakes in Pfizer Inc. (NYSE:PFE), which remained the same as in the previous quarter. These stakes have a consolidated value of more than $2.43 billion. Among billionaires owning stakes in the company, D. E. Shaw and Ken Griffin remained the most prominent ones.

2. AbbVie Inc. (NYSE:ABBV)

Number of Billionaire Investors: 18
Dividend Yield as of December 10: 4.15%

AbbVie Inc. (NYSE:ABBV) specializes in the development and marketing of drugs for various therapeutic areas, with a particular emphasis on immunology and oncology. The company maintains an impressive 51-year track record of consistent dividend growth and offers a quarterly dividend of $1.55 per share. As of December 10, the stock has a dividend yield of 4.15%.

18 billionaires in our database, including Ken Griffin and Israel Englander, owned stakes in AbbVie Inc. (NYSE:ABBV) in Q3 2023. In addition to this, 73 hedge funds owned investments in the company at the end of the quarter, worth collectively over $3.2 billion.

1. Chevron Corporation (NYSE:CVX)

Number of Billionaire Investors: 19
Dividend Yield as of December 10: 4.19%

An American multinational energy company, Chevron Corporation (NYSE:CVX) tops our list of the best dividend stocks. The company pays a quarterly dividend of $1.51 per share and has a dividend yield of 4.19%, as of December 10. With a dividend growth streak of 36 years, XOM remained one of the top choices of billionaires in Q3, including Warren Buffett and Ken Fisher.

At the end of the September quarter of 2023, 72 hedge funds held stakes in Chevron Corporation (NYSE:CVX), compared with 73 in the previous quarter. The overall value of these stakes is over $21.4 billion.

You can also have a look at Billionaire Druckenmiller’s 10 Stocks Picks with Huge Upside Potential and 11 Cash-Rich Stocks to Buy According to Hedge Funds