Fund Managers Share Top Dividend Stock Picks For Passive Income Stream — Here's What They Suggest
Portfolio Pulse from Benzinga Neuro
Fund managers Matt Burdett and Brian Leonard recommend Broadcom Inc (AVGO), Orange (ORAN), and WK Kellogg Co (KLG) as top dividend stocks for passive income. Burdett highlights AVGO's dividend growth and AI potential, and ORAN's cash flow and buyback potential post-merger. Leonard sees KLG's lower valuation and margin improvement as key advantages. These recommendations come amid mixed market correction signals, suggesting these stocks could provide stable income in volatile markets.
April 10, 2024 | 9:02 am
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POSITIVE IMPACT
Broadcom Inc is recommended for its dividend growth and AI potential, despite a 1.6% yield.
Burdett's endorsement of AVGO, focusing on its dividend growth and AI potential, suggests a positive outlook for the stock. Given the emphasis on its software diversification, AVGO could see increased investor interest, potentially driving up its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
WK Kellogg Co is favored for its 3.1% dividend yield, valuation, and potential margin improvements.
Leonard's recommendation of KLG, citing its lower valuation and potential for operating margin improvements, suggests optimism for its financial performance. This could lead to increased investor interest and a positive impact on its stock price in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Orange is highlighted for its 6.8% dividend yield and potential for share buybacks following a merger.
The focus on ORAN's high dividend yield and its potential for share buybacks due to increased operating free cash flow post-merger indicates a strong income-generating potential. This could attract investors looking for stable income, positively impacting its stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90