Jim Simons is the founder of Renaissance Technologies, which uses a quantitative strategy when buying and selling out of positions. The story of the secretive mathematician who amassed a net worth of over $28 billion as an algorithm pioneer was told in the book, “The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution,” by Gregory Zuckerman.
Quantitative strategies use computer algorithms to find inefficiencies in the market to earn investment gains. Here are two dividend stocks that Renaissance Technologies held according to the firm’s previous two 13F filings, although Renaissance Technologies is known to rapidly turn over stocks.
Walgreens Boots Alliance (NASDAQ:WBA) is offering a dividend yield of 5.33% or $1.92 per share annually, making quarterly payments, with a solid track record of increasing its dividends for five consecutive years. Walgreens is a leading retail pharmacy chain with about 13,000 stores in the U.S. and internationally. Nearly 80% of the U.S. population living within five miles of a Walgreens store.
Sales from continuing operations in the first nine months of fiscal 2022 were $100.3 billion, an increase of 2% from the same period a year ago, and an increase of 2.7% on a constant currency basis.
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ABB LTD (NYSE:ABB) is offering a dividend yield of 3.11% or 88 cents per share annually, with a decent track record of increasing its dividends over the past three years. ABB is a global supplier of electrical equipment and automation products, and is the number-two robotic arm supplier globally.
ABB launched a new share buyback program of up to $3 billion on April 1, 2022, and during the second quarter, 33,852,000 shares were repurchased or just over $1 billion.
Photo: Courtesy of Graham Leuschke on flickr
