10 Best Diversified Dividend Stocks To Buy Now

3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ) is an American pharmaceutical company, based in New Jersey. The company specializes in a wide range of biotech and medical products and offers related services to consumers. It is gaining attention for its continued innovation and recent acquisitions. It recently revealed plans to invest more than $14 billion to acquire Intra-Cellular Therapies, aiming to enhance its focus on central nervous system disorders. The acquisition will be funded through a combination of cash reserves and debt, with the deal expected to close later this year. This marks the largest biotech acquisition in over a year, indicating a rebound in healthcare mergers and acquisitions after a slowdown in 2024, as major pharmaceutical companies took time to integrate their earlier post-pandemic acquisitions.

In its recently announced Q4 2024 earnings, Johnson & Johnson (NYSE:JNJ) reported revenue of $22.5 billion, up 5.2% from the same period last year. As a healthcare company focused on disease, the company is enhancing the standard of care across a wide range of conditions with significant unmet needs, such as multiple myeloma, lung cancer, inflammatory bowel disease, and heart failure. Its MedTech’s global operational sales increased by 6.2%, with net acquisitions and divestitures contributing 1.5% to this growth. The primary drivers of this growth were electrophysiology products and Abiomed in the Cardiovascular sector, as well as wound closure products in General Surgery.

Johnson & Johnson (NYSE:JNJ) is one of the best dividend stocks on our list as the company has raised its payouts for 62 years in a row. The company offers a quarterly dividend of $1.24 per share and has a dividend yield of 3.41%, as of January 22.

As of the close of Q3 2024, 81 hedge funds tracked by Insider Monkey reported having stakes in Johnson & Johnson (NYSE:JNJ), up from 80 in the previous quarter. These stakes are collectively valued at over $5.4 billion.