5 Best Diversified Dividend Stocks to Buy Now

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 84

Johnson & Johnson (NYSE:JNJ) operates in a wide range of industries, including healthcare, consumer packaged goods, and medical devices. The company has been raising its dividends consistently for the past 61 years and pays a quarterly dividend of $1.13 per share. As of March 28, the stock has a dividend yield of 2.95%.

Guggenheim initiated its coverage of Johnson & Johnson (NYSE:JNJ) with a Neutral rating in March with a $161 price target, appreciating the company’s business model and growth in its MedTech segment.

As per Insider Monkey’s database for Q4 2022, 84 hedge funds owned stakes in Johnson & Johnson (NYSE:JNJ) with a total value of over $5.5 billion. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder in Q4.

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