5 Safest Stocks To Invest In

4. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) traces its roots back 130 years and has since been innovating and revolutionizing the healthcare industry. It is among the most premium healthcare brands in the industry and boasts a portfolio of over 100 brands. Johnson & Johnson (NYSE:JNJ) is also a prominent dividend king, having been consistent with growing its dividends for well above 50 years, making it one of the safest and most reliable bets for investors. As of June 9, Johnson & Johnson (NYSE:JNJ) has a forward dividend yield of 2.53% and boasts a 5-year CAGR of 5.87%.

Johnson & Johnson (NYSE:JNJ) is effectively working on beating cancer, and announced interim data for its oral cancer therapy, FGFR kinase inhibitor. The company reported that 29.2% of its 178 subjects with FGFR-driven solid tumors responded positively to the treatment and showcased reduced and deteriorated tumor cells. Moreover, the disease control rate for the study was reported to be 72.5%. The company’s efforts in the healthcare industry are unparalleled, making Johnson & Johnson (NYSE:JNJ) a leading pharmaceutical giant.

On May 23, SVB Leerink analyst David Risinger assumed coverage of Johnson & Johnson (NYSE:JNJ) with an Outperform rating and a $200 price target.

At the close of Q1 2022, 83 hedge funds held stakes in Johnson & Johnson (NYSE:JNJ). The total value of these stakes came in at $7.40 billion, up from $7.38 billion in the preceding quarter with 83 positions.

In the first quarter of 2022, Arrowstreet Capital raised its stakes in Johnson & Johnson (NYSE:JNJ) by 38%, bringing them to $1.17 billion. Arrowstreet Capital is the top shareholder in the company and the investment covers 1.47% of its 13F portfolio.