10 Defensive Stocks Billionaire Ken Fisher Is Betting On

7. Johnson & Johnson (NYSE:JNJ)

Beta Value: 0.41

Dividend Yield: 3.24%

Fisher Asset Management’s Q4 Stake: $1.18 billion

Number of Hedge Fund Holders: 98

Johnson & Johnson (NYSE:JNJ) is a notable name in the healthcare industry, which includes sub-sectors like pharmaceuticals, medical equipment, and consumer health products. The company is known for creating medications to treat a variety of conditions and diseases, including cancer, diabetes, and HIV/AIDS.

On April 4, UBS reaffirmed its Buy rating and $180 price target for Johnson & Johnson (NYSE:JNJ). Despite a blow from an unexpected judicial ruling involving talc-related cases, UBS believes Johnson & Johnson’s core business will stay robust. UBS noticed trends in new prescription (NBRx) and total prescription (TRx) growth, pointing out a 14% quarter-over-quarter rise in TRx for Tremfya, a drug used to treat plaque psoriasis and psoriatic arthritis.

The company has grown its dividends for 62 consecutive years and now pays a quarterly dividend of $1.24 per share. As of April 5, the stock’s dividend yield was 3.24%.