5 Safe Stocks To Invest in For The Long Term in 2022

4. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) provides healthcare and pharmaceutical products around the globe. It ranks as a popular dividend aristocrat which has grown its dividend payments for 59 years in a row.

On March 2, analyst Geoff Meacham of BofA reinstated coverage of Johnson & Johnson (NYSE:JNJ) with a ‘Neutral’ rating and a price target of $185. Given the current macro and geopolitical environment, he likes the firm’s ‘safe haven’ status, and also remains bullish on its near-term growth prospects.

Johnson & Johnson (NYSE:JNJ) posted an EPS of $2.13 for the fourth quarter, exceeding estimates by $0.01. Revenue for Q4 was recorded at $24.80 billion, signalling a boost of 10.36% year-on-year. As of April 4, Johnson & Johnson’s (NYSE:JNJ) share price has jumped 9.03% in the last 12 months, and 11.91% in the last 6 months.

Out of all the hedge funds tracked by Insider Monkey, 83 reported holding positions in Johnson & Johnson (NYSE:JNJ) at the end of the fourth quarter, with combined stakes worth $7.38 billion. Fundsmith LLP was the top shareholder in Johnson & Johnson (NYSE:JNJ) during the fourth quarter, with a stake consisting of 7.21 million shares valued $1.23 billion.

Distillate Capital, an investment firm, talked about many stocks in its Q2 2021 investor letter, and Johnson & Johnson (NYSE:JNJ) was one of them. The fund said:

“The largest additions in the rebalance, Johnson & Johnson was around 50 and 40 basis points incrementally. J&J underperformed in the quarter while its normalized free cash flows held steady and so its position size was topped off to match the stable cash flows.”