10 Dogs of the Dow Dividend Stocks to Invest in

4. Johnson & Johnson (NYSE:JNJ)

Dividend Yield as of December 17: 3.40%

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 various acquisitions. Its latest purchase was the medical device company V-Wave, with an initial payment of $600 million. The deal also includes potential milestone payments that could total up to $1.1 billion, contingent on regulatory approvals and commercial successes.

Johnson & Johnson (NYSE:JNJ) reported strong earnings in the third quarter of 2024, with revenues reaching $22.4 billion, reflecting a 5.25% increase compared to the same period last year. For the first nine months of the year, the company generated $14 billion in free cash flow, up from $11.9 billion in the previous year. It has revised its 2024 guidance, including adjusted operational earnings per share (EPS), to account for stronger performance and the effects of its recent acquisition of V-Wave. The company now expects adjusted operational sales to grow between 5.7% and 6.2%, with a midpoint of 6.0%.

Johnson & Johnson (NYSE:JNJ) is a strong dividend payer, having raised its payouts for 62 consecutive years. The company currently offers a quarterly dividend of $1.24 per share for a dividend yield of 3.40%, as of December 17.

As per Insider Monkey’s database of Q3 2024, 81 hedge funds held stakes in Johnson & Johnson (NYSE:JNJ), up from 80 in the preceding quarter. These stakes are collectively valued at over $5.4 billion.