15 Dow Stocks Listed and Ranked By 2022 Hedge Fund Bullishness Index

9. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) deals in the provision of consumer products, medical devices and biopharmaceutical products. It is known as one of the safest dividend stocks to buy, having 59 consecutive years of dividend increases under its belt. As of June 30, its dividend payments yield 2.55% annually.

83 hedge funds were bullish on Johnson & Johnson (NYSE:JNJ) at the close of the first quarter, with overall stakes worth $7.4 billion. The same number of hedge funds were long the company’s shares a quarter earlier as well. JNJ’s biggest Q1 shareholder was Arrowstreet Capital, with 6.65 million shares priced at $1.17 billion, a 38% increase from the previous quarter. Bridgewater Associates also held a $770 million stake in Johnson & Johnson (NYSE:JNJ).

Distillate Capital, an investment firm, talked about Johnson & Johnson (NYSE:JNJ) in its Q2 2021 investor letter. Here is what the fund said:

“The largest additions in the rebalance, Johnson & Johnson was around 50 and 40 basis points incrementally. J&J underperformed in the quarter while its normalized free cash flows held steady and so its position size was topped off to match the stable cash flows.”