Top 5 Dividend Stocks To Buy According To Hedge Funds

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 269

Microsoft Corporation (NASDAQ:MSFT) raised its dividend for the 16th consecutive year in 2022. The company pays a quarterly dividend of $0.68 per share and has a dividend yield of 1.13%, as of November 29.

RBC Capital maintained an Outperform rating on Microsoft Corporation (NASDAQ:MSFT) in October with a $310 price target, appreciating the company’s fiscal Q1 2023 results. The firm also highlighted the company’s management and its execution.

Microsoft Corporation (NASDAQ:MSFT) was included in 269 hedge fund portfolios in Q3 2022, up from 258 in the previous quarter, as per Insider Monkey’s database. The collective value of these stakes is over $61.1 billion.

Diamond Hill Capital mentioned Microsoft Corporation (NASDAQ:MSFT) in its Q3 2022 investor letter. Here is what the firm has to say:

“Also among our bottom contributors were media and technology giant Alphabet, software and IT services provider Microsoft Corporation (NASDAQ:MSFT) and insurance company American International Group (AIG). Microsoft shares declined in Q3, along with other tech companies, as rising interest rates impacted the near-term outlook. We expect the business to continue to generate strong revenue growth and benefit from operating leverage. Microsoft’s cloud computing services business, Azure, is generating robust growth, confirming its competitive positioning.”

You can also take a look at 11 Best Canadian Dividend Stocks To Buy Now and 10 Best 5% Dividend Stocks To Buy According To Hedge Funds

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