5 Best Dividend Aristocrat Stocks To Buy Heading Into Recession

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Dividend Yield as of May 6: 2.56%

Number of Years of Consecutive Dividend Increases: 60

Johnson & Johnson (NYSE:JNJ) is an American healthcare corporation operating in three segments – Consumer Health, Pharmaceutical, and Medical Devices. Johnson & Johnson (NYSE:JNJ) reported Q1 earnings per share of $2.67 on April 19, beating market consensus estimates by $0.10.

Johnson & Johnson (NYSE:JNJ) has a 60-year history of consistent dividend growth, and the stock delivers a dividend yield of 2.56% as of May 6. Johnson & Johnson (NYSE:JNJ) on April 19 declared a $1.13 per share quarterly dividend, a 6.6% increase from its prior dividend of $1.06. The dividend is payable on June 7, to shareholders of record on May 24. 

On April 20, Credit Suisse analyst Matt Miksic reiterated an Outperform rating on Johnson & Johnson (NYSE:JNJ) and raised the firm’s price target on the stock to $205 from $200. The analyst noted that the company’s Q1 results led off Med Supplies and Devices earnings with better-than-expected growth across almost all of its MedTech businesses, including Interventional Solutions, DePuy-Synthes, Advanced/General Surgery, and Vision. 

According to Insider Monkey’s Q4 database, 83 hedge funds were long Johnson & Johnson (NYSE:JNJ), compared to 88 funds in the last quarter. Terry Smith’s Fundsmith LLP held the largest stake in the company, with 7.2 million shares worth $1.2 billion.