Dividend Kings and Aristocrats List: 10 Biggest Stocks

2. Johnson & Johnson (NYSE:JNJ)

Market Cap as of January 28: $439.8 billion

Another Dividend King on our list is Johnson & Johnson (NYSE:JNJ), which has been raising its dividends for the past 60 years. The multinational pharmaceutical company reported mixed earnings in its Q4 2022. Its revenue for the quarter came in at $23.7 billion, which fell by 4.4% from the same period last year. However, the company revenue showed a 1.3% year-over-year for FY22 at roughly $95 billion.

Johnson & Johnson (NYSE:JNJ) pays a quarterly dividend of $1.13 per share and has a dividend yield of 2.69%, as of January 28.

Citigroup presented a positive outlook on the company’s sales and its performance in the past year and raised its price target on Johnson & Johnson (NYSE:JNJ) in December to $205 with a Buy rating on the shares.

At the end of Q3 2022, 85 hedge funds in Insider Monkey’s database owned stakes in Johnson & Johnson (NYSE:JNJ), up from 83 in the previous quarter. The collective value of these stakes is over $5.4 billion. Among these hedge funds, Fisher Asset Management was the company’s leading stakeholder in Q3.

Here’s what Distillate Capital Partners LLC said about Johnson & Johnson (NYSE:JNJ) in its Q2 2022 investor letter:

“Johnson & Johnson was among the 2 largest trims at around 1% each. Each stock was up 1% in the quarter compared to the 16% price decline for the S&P 500 and the positions were reduced as the valuations became somewhat less appealing, though still attractive enough to warrant inclusion.”