Billionaire Israel Englander Is Doubling Down on These 2 Outstanding Dividend Stocks. Should You?
Dividend seekers can hardly go wrong with these companies.
Overview
Israel Englander is a famous and successful hedge fund manager who founded Millennium Management. This hedge fund firm has delivered excellent returns over the past few decades, so it is worth taking a look inside its portfolio. During the second quarter, Izzy Englander and his team made several notable purchase decisions, including increasing their stakes in two dividend-paying companies: AbbVie (NYSE:ABBV) and Costco (NASDAQ:COST). The firm more than doubled its position in both stocks. Should retail investors follow suit?
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AbbVie has faced challenges in recent years, including a major patent cliff and clinical setbacks that have weighed on the stock. Somehow, the company always manages to bounce back. AbbVie's shares have moved in line with the S&P 500 this year, and they may continue doing so -- and perhaps even outpace broader equities -- over the medium term. Consider several reasons why. First, AbbVie's core business is rock-solid.
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Originally published at www.fool.com.