Retirement Stock Portfolio: 10 Safe Dividend Stocks to Buy Now

3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 91

Johnson & Johnson (NYSE:JNJ) is added to our list of the best dividend stocks for a retirement stock portfolio. On June 12, UBS global equity strategist Andrew Garthwaite’s team pointed to Johnson & Johnson as one of the top cyclical picks, excluding financials, whose performance tends to move with the broader economy.

The stock has gained over 9% in 2025 and currently offers a dividend yield of around 3.4%. Most analysts rate it as a hold, though LSEG data suggests there’s still over 9% potential upside from current levels.

Last month, Goldman Sachs raised its price target on Johnson & Johnson (NYSE:JNJ) from $172 to $176 and added the stock to its conviction list. The firm made the following statement in its May report:

“JNJ is a stable, defensive grower with the industry’s strongest balance sheet allowing for continued high [return on invested capital] investments in the Innovative Medicines segment to augment revenue growth.”

The firm highlighted that JNJ “has a strong pipeline,” with “meaningful revenue opportunities” in treatments for conditions such as multiple myeloma, lung cancer, and other serious illnesses.