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a 5.8% forward dividend yield is just one reason the hedge fund manager likes this stock Griffin Citadel hedge fund increased its stake in this stock by 63% in second quarter the billionaire investor has several potential reasons for aggressively buying the stock this stock won't be a fit for every investing style but could be ideal for some investors let's dive in billionaire Ken Griffin loaded up on this high yield dividend stock should you welcome to timely investment research dividend stocks aren't just for income investors want proof just look at Ken Griffin's purchases for his Citadel hedge fund in the second quarter of 2024 Griffin's net worth is $43 billion it's fair to say he doesn't need dividend income and is by no means an income investor however the billionaire loaded up on at least one high yield dividend stock in Q2 a big of a big Pharma Griffin went on a major buying spree in second quarter he increased Citadel stake by 20% or more for 35 of the hedge funds top 50 Holdings most of those purchases weren't of high yield dividend stocks one notable exception however was Griffin's big buy of a big Pharma fizer the drug Maker's forward dividend yield is a lofty 5.8% in second quarter Griffin bought 7.89 million additional shares of fiser this increased Citadel stake by 63% fizer now ranks as the Hedge fund's 14th largest position and 12 largest stock holding the top two overall Holdings are exchange traded funds or ETFs Griffin has a long history with fizer he first initiated a position in the Pharma stock in 2013's second quarter through the years the billionaire hedge fund manager has increased and decreased citadel's stake in fizer recently though he appears to be all aboard the big drug makers bandwagon Griffin has increased his position in fizer for six consecutive quarters why does Griffin like fizer as far as I know Griffin hasn't commented publicly about why he has been aggressively adding to citadel's position in fizer however we can make a few educated guesses I'm sure he likes the company's juicy dividend to be sure Griffin isn't an income investor but he no doubt recognizes that a dividend yield of nearly 6% gives fizer a nice head start on delivering Market beating total returns valuation could be another top consideration for the billionaire investor fizer's share price remains roughly 50% below its peak set in late 2021 the Stock's forward price to earnings ratio is 10.3 much lower than the S&P 500 Healthcare sector forward earnings multiple of 19.6 Griffin is big on diversification citadel's portfolio includes a whopping 5,816 Holdings the addition to the position in fiser could have been in part to increase the hedge funds exposure to healthcare and in particular the pharmaceutical industry ultimately though Griffin invests in specific stocks because he thinks they'll make money I suspect he likes fizer's long-term growth prospects Griffin is a stute enough to understand the challenges the drug maker faces including declining sales Sal of its co- ofid 19 products and Al luming patent Cliff with several top selling drugs losing patent exclusivity however he also knows the efforts fiser has made to overcome these challenges such as investing heavily in research and development and making Acquisitions to bolster its pipeline should you buy fizer stock too no one should buy or sell a given stock solely to follow in the footsteps of a wealthy famous investor like Ken Griffin however the trades of successful investors can often provide good ideas to consider should you buy fizer stock too growth investors probably won't find fiser super attractive although I think the big Pharma company will deliver solid growth over the next few years it likely won't be enough to keep up with many tech stocks and other high growth Alternatives highly risk averse investors might want to remain on the sidelines with fiser as well the drug makers pipeline candidates could fail in clinical testing and cause the stock to drop that's less of a problem with a big company like fizer that has a deep pipeline but it's definitely something to keep in mind on the other hand fiser could be a good fit for Value investors as previously mentioned the stock is relatively cheap if the company's new products and late stage pipeline programs fulfill their potential fizer's share price could rebound nicely over the rest of the decade and there's one group of investors who should absolutely love fiser income investors fizer yield is exceptional the company appears to be in a strong position to keep the dividends flowing no dividend stocks aren't just for income investors but a high yield dividend stock with a long track record of success like fiser will usually be a better fit for income investors than any other type of investor thanks for spending some time with us today timely investment research we're so glad you did if you found value in today's video please give us a like hit that Bell icon to never miss 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