5 Safe Stocks To Buy For Beginner Investors

4. Johnson & Johnson (NYSE:JNJ)

Number Of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is a global healthcare company that investigates, develops, produces, and distributes a variety of medical devices, pharmaceuticals, and consumer packaged goods. The company recently announced a 6.6% increase in the quarterly dividend, from $1.06 per share to $1.13 per share.

Johnson & Johnson (NYSE:JNJ) released its earnings report for the fiscal first quarter of 2022 on April 19, with a reported EPS at $2.67, surpassing market estimates by $0.10. Additionally, the company reported a revenue of $23.43 billion.

Earlier on April 20, Credit Suisse analyst Matt Miksic raised his price target on Johnson & Johnson (NYSE:JNJ) to $205 from $200 and kept an Outperform rating on the shares of the company. The analyst notes that Johnson & Johnson’s (NYSE:JNJ) Q1 results led off Med Supplies and Devices earnings with better-than-expected growth across nearly every one of its MedTech businesses.

Johnson & Johnson (NYSE:JNJ) is one of the top safe stocks that beginner investors could add to their portfolios. At the end of the fourth quarter of 2021, 83 hedge funds in the database of Insider Monkey held stakes worth $7.3 billion in Johnson & Johnson (NYSE:JNJ), compared to 88 in the previous quarter worth $6.8 billion. Of these 83 funds, Fundsmith LLP held 7.21 million shares worth $1.23 billion in Johnson & Johnson (NYSE: JNJ), making it the largest shareholder of the firm.