10 Best Dividend Aristocrat Stocks To Buy Right Now

4. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ) is a New Jersey-based pharmaceutical company that specializes in a wide range of biotech and medical products and offers related services to consumers. The company has steadily expanded its portfolio through multiple acquisitions. Recently, it acquired the medical device company V-Wave for an upfront payment of $600 million. The deal also includes additional milestone payments of up to $1.1 billion, contingent on regulatory approvals and commercial successes. The stock has surged by over 3% in the past 12 months.

Johnson & Johnson (NYSE:JNJ) reported strong earnings in the third quarter of 2024. The company posted revenue of $22.4 billion, up 5.25% from the same period last year. The revenue also beat analysts’ estimates by $299.7 million. The company’s cash position was also very strong with year-to-date free cash flow amounting to approximately $14 billion, up from $11.9 billion in the prior-year period.

Johnson & Johnson (NYSE:JNJ), one of the best dividend aristocrat stocks, currently offers a quarterly dividend of $1.24 per share. The company has been rewarding shareholders with growing dividends for the past 62 consecutive years. The stock supports a dividend yield of 3.18%, as of November 25.

As of the close of Q3 2024, 81 hedge funds tracked by Insider Monkey held stakes in Johnson & Johnson (NYSE:JNJ), up from 80 in the previous quarter. The total value of these stakes is more than $5.4 billion. Fisher Asset Management owned the largest stake in the company, worth over $1.22 billion.