Retirement Stock Portfolio: 5 Safe Dividend Stocks to Consider

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 85

Dividend Yield as of November 28: 2.55%     

Johnson & Johnson (NYSE:JNJ) researches and develops, manufactures, and sells various products in the healthcare field. It is one of the top dividend stocks for a retirement stock portfolio. On November 1, according to CNBC’s David Faber, Johnson and Johnson approached Abiomed, a medical device technology company, to start talks regarding a merger. On October 25, reports had indicated that the firm had agreed to acquire Abiomed for an upfront payment of $380 per share in cash.

On October 19, Bernstein analyst Lee Hambright maintained a Market Perform rating on Johnson & Johnson (NYSE:JNJ) stock and lowered the price target to $190 from $194, noting that the company reported strong third quarter results as sales grew 8.2% organic to $23.8 billion.

Among the hedge funds being tracked by Insider Monkey, Camas, Washington-based firm Fisher Asset Management is a leading shareholder in Johnson & Johnson (NYSE:JNJ) with 5.9 million shares worth more than $967.3 million. 

In its Q2 2022 investor letter, Mayar Capital, an asset management firm, highlighted a few stocks and Johnson & Johnson (NYSE:JNJ) was one of them. Here is what the fund said:

“Johnson & Johnson (NYSE:JNJ) is currently our largest position and a long-standing holding. The majority of the group’s sales come from its collection of pharmaceutical franchises, but a large majority (~45%) comes from its collection of medical device businesses and its consumer brands.

Here’s how JNJ make and spends a dollar of revenues: As of 2021, about 55 cents of that dollar comes from its pharmaceutical sales – sales of drugs to pharmacies and distributors – while 30 cents come from the sale of medical devices, such as surgery equipment and orthopaedics. The rest of that dollar in sales comes from sales of JNJ’s consumer brands such as Listerine mouthwash, Nicorette nicotine tablets and Neutrogena cosmetics (…read more)