Warren Buffett’s 8 Best Dividend Stock Picks

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Warren Buffett has started cutting his stakes in Apple Inc. (NASDAQ:AAPL). Berkshire decreased its hold in Apple by 13% in the first quarter of this year. The fund still owns a massive $135 billion stake in Apple, which makes the stock Berkshire’s biggest holding. With over a decade of consistent dividend increases and huge cash piles, Apple Inc. (NASDAQ:AAPL) is one of the best dividend stock picks of Warren Buffett based on hedge fund sentiment.

Polen Capital mentioned Apple Inc. (NASDAQ:AAPL) in its first quarter 2024 investor letter. Here is what the firm has to say:

“The largest relative contributors to the Portfolio’s performance during the first quarter were SAP, Apple Inc. (NASDAQ:AAPL) (not owned), and Amazon.

The zero weight to Apple was another notable relative contributor in the quarter. More recently, Apple has come under pressure from a confluence of issues ranging from a weak iPhone cycle, market share erosion in China, mounting regulatory pressure around App Store fees in Europe, and a lawsuit from the U.S. Justice Department accusing the company of anticompetitive practices in its iPhone business. All this has resulted in the stock down -11% year to date, underperforming the overall Index by -19%—Apple’s worst relative performance quarter since 2013. It remains a great business and one we follow, but we’re content not owning it right now, given its growth prospects relative to its valuation.”