10 Best Halal Dividend Stocks To Invest In

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ) ranks second on our list of the best halal stocks that pay dividends. The American multinational pharmaceutical company specializes in a wide range of biotech and medical products and offers related services to consumers. Its strategy of focusing on innovation and growth is proving successful, as reflected in its quarterly performance. For the third consecutive quarter, the company has raised its adjusted operational EPS guidance, excluding the impact of mergers and acquisitions. The company’s operational performance indicates strong confidence in its growth outlook for 2025 and the years to follow. Since the start of 2025, the stock has surged modestly by nearly 1%.

Johnson & Johnson (NYSE:JNJ) is drawing attention to its ongoing innovation and recent acquisitions. It recently announced plans to invest over $14 billion in acquiring Intra-Cellular Therapies, strengthening its focus on treatments for central nervous system disorders. The purchase will be financed through a mix of cash reserves and debt, with the deal anticipated to close later this year. This represents the largest biotech acquisition in more than a year, signaling a revival in healthcare mergers and acquisitions after a slowdown in 2024, as major pharmaceutical firms focused on integrating their earlier post-pandemic purchases.

Johnson & Johnson (NYSE:JNJ) recently announced its Q4 2024 earnings and posted $22.5 billion in revenue, a 5.2% increase compared to the same period last year. As a healthcare leader addressing diseases, the company is improving care standards for conditions with significant unmet needs, including multiple myeloma, lung cancer, inflammatory bowel disease, and heart failure. Its MedTech division saw a 6.2% increase in global operational sales, with 1.5% of this growth attributed to net acquisitions and divestitures. Key drivers included electrophysiology products and Abiomed in the Cardiovascular segment, along with wound closure products in General Surgery.

Johnson & Johnson (NYSE:JNJ) has been raising its payouts for 62 consecutive years. 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.