5 Best Dividend Stocks to Buy According to Crispin Odey’s Hedge Fund

4. Johnson & Johnson (NYSE: JNJ)

Odey’s Stake Value: $2,531,000
Percentage of Crispin Odey’s 13F Portfolio: 0.7%
Dividend Yield: 2.59%
Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE: JNJ) manufactures and trades a range of healthcare products. It was founded in 1886 and is placed fourth on our list of 10 best dividend stocks to buy according to Crispin Odey’s hedge fund. Johnson currently has a $432.43 billion market capitalization and was able to deliver a 19.16% return in the past twelve months.

On June 25, European Medicines Agency approved an additional manufacturing site in Italy to manufacture the COVID-19 vaccine developed by Johson. The decision by EMA’s committee for human medicines will increase the supply of JNJ’s single-use shot in Europe. On April 20, Johnson & Johnson (NYSE: JNJ) declared a quarterly dividend of $1.06 per share, a 5% increase from its prior dividend of $1.01. On May 28, Morgan Stanley initiated coverage on Johnson with an “Overweight” rating and a price target of $187.00.

Odey Asset Management Group holds 15,400 shares in the company worth $2.53 million, representing 0.7% of their portfolio. Arrowstreet Capital is the biggest stakeholder in the company, with over 9 million shares worth $1.48 billion.