13 Best Pharma Dividend Stocks To Buy In 2024

4. Johnson & Johnson (NYSE:JNJ)

Dividend Yield as of December 28: 3.43%

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ) operates globally in healthcare through its Innovative Medicine and MedTech segments. It offers treatments for conditions like rheumatoid arthritis, HIV/AIDS, schizophrenia, cancer, diabetes, and pulmonary hypertension. The MedTech segment provides solutions for heart disorders, stroke, orthopedics, surgeries, and vision care. Johnson & Johnson (NYSE:JNJ) ranks 4th on our list of the best dividend stocks.

Johnson & Johnson (NYSE:JNJ) achieved strong results in Q3, with 6.3% operational sales growth, driven by a shift towards high-innovation, high-growth markets. The company’s sales exceeded $14 billion for the second consecutive quarter in Innovative Medicine, with key brands, including DARZALEX, seeing double-digit growth. MedTech also saw positive momentum, particularly in Cardiovascular, with acquisitions of Shockwave and Abiomed boosting performance. The company made significant advancements, including FDA approvals for RYBREVANT and TREMFYA, and the launch of Shockwave E8 and new contact lenses.

Johnson & Johnson (NYSE:JNJ) remains confident in its future growth, having invested $18 billion in M&A, and raised its earnings guidance for the third quarter in a row. Worldwide Q3 sales reached $22.5 billion, with a net income of $2.7 billion and a diluted EPS of $1.11. Johnson & Johnson (NYSE:JNJ) ended Q3 with $20 billion in cash and marketable securities, and $36 billion in debt, resulting in a net debt of $16 billion. J&J also paid a $1.24 per share quarterly dividend on December 10. The company remains focused on innovation and strategic investments, spending nearly $5 billion on R&D during the quarter and $18 billion on acquisitions and licensing agreements, including the acquisition of V-Wave for heart failure treatments.

Insider Monkey’s third-quarter database shows that Johnson & Johnson (NYSE:JNJ) was found in 81 hedge funds, compared to 80 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the biggest stakeholder of the company, with 7.5 million shares worth $1.2 billion.