1. Citigroup (NYSE:C)
Hedge Funds: 91
Total Hedge Fund Holdings: $5.5 billion
Dividend Yield: 3.5%
Price (at the time of writing): $58.93
Citigroup’s shares aren’t too far from $50 and we believe financial stocks offer some of the highest upside potentials in the market right now, so we made an exception. Financial stocks are definitely contrarian investments at the moment. If Citigroup’s stock price goes back to its 2020 high, Citigroup investors will generate more than 35% gains from these levels.
Wells Fargo & Company (NYSE: WFC)
Hedge Funds: 90
Total Hedge Fund Holdings: $8.46 billion
Dividend Yield: 1.38%
Price (at the time of writing): $29.08
Even though Q3 saw WFC losing some interest by Warren Buffett’s fund, other hedge funds responded with greater interest. Even though it is not at its all time high, interest in Wells Fargo & Company enjoyed a slight increase in Q4, climbing to 90 from 84.
3. Bank of America Corp (NYSE: BAC)
Hedge Funds: 88
Total Hedge Fund Holdings: 26.63
Dividend Yield: 2.52%
Price (at the time of writing): $28.57
BAC’s Q3 report states a net income of $4.9 billion, or $0.51 per diluted share. This beat the predictions which may have been lowered due to the credit panic that took over the stock market once the COVID pandemic hit.
4. Intel Corporation (NASDAQ: INTC)
Hedge Funds: 66
Total Hedge Fund Holdings: $4.34 billion
Dividend Yield: 2.65%
Price (at the time of writing): $49.73
Microchip & hardware tech giant Intel’s Q3 announcements outlined $25.5 billion cash from operations, $15.1 billion of free cash flow and paid dividends of $4.2 billion.
At Q3’s end, a total of 66 of the hedge funds held long positions in this stock, a change of -15% from the second quarter of 2020. Ken Fisher’s Fisher Asset Management currently holds the number one investor spot among hedge funds with $1.46 billion in share holdings.
5. Pfizer Inc. (NYSE: PFE)
Hedge Funds: 66
Total Hedge Fund Holdings: $2.12 billion
Dividend Yield: 3.70%
Price (at the time of writing): $41.12
Pfizer has been enjoying a lot of media attention recently, given it is one of the front-liners in the battle for developing and releasing a wide-use COVID vaccine. Has it been enjoying the same amount of interest from investors, though? Our data shows that hedge fund investor interest has been flat at 66 portfolios, same as in Q2.
However, Pfizer has recently announced positive results in its vaccine trials and has been making steps to start vaccination in multiple nations. Pfizer stock was one of the first buys of Warren Buffet’s Berkshire Hathaway for Q3. Berkshire bought 3.91 million PFE shares during Q3, building an ownership stake valued at over $136 million as of September 30.
6. Cisco Systems, Inc. (NASDAQ: CSCO)Hedge Funds: 59
Total Hedge Fund Holdings: $3.93 billion
Dividend Yield: 3.25%
Price (at the time of writing): $44.32
Tech giant Cisco just announced its fiscal year results for 2020 with a revenue of $49.3 billion (decrease of 5% year over year). Over half of the company’s revenue this year was from software and services even though Cisco is known as a hardware provider. The FY results outline GAAP earnings per share at $2.64 and non-GAAP at $3.21. The former with a 1% year over year increase and the latter – 4%.
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