5 Best Dividend Aristocrats to Buy According to Hedge Funds

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1. Johnson & Johnson (NYSE: JNJ)

Number of Hedge Fund Holders: 81
Number of Years of Consecutive Dividend Increases: 58
Dividend Yield: 2.5%

Johnson & Johnson (NYSE: JNJ) is yet another medical company, ranking 1st on our list of the best dividend aristocrats to buy according to hedge funds. The company operates through its Consumer Health, Pharmaceutical, and Medical Devices segments.

This July, Johnson & Johnson (NYSE: JNJ) raised its adjusted EPS view for the financial year of 2021 to $9.50-$9.60, while also raising its revenue view to $93.8 billion-$94.6 billion, versus the estimates of $91.3 billion. Additionally, Cantor Fitzgerald has maintained an Overweight rating on Johnson & Johnson (NYSE: JNJ) shares with a $200 price target as well.

In the second quarter of 2021, Johnson & Johnson (NYSE: JNJ) had an EPS of $2.48, beating estimates by $0.20. The company’s revenue was $23.31 billion, up 27.14% year over year and also beating estimates by $802.29 million. Johnson & Johnson (NYSE: JNJ) has gained about 2.41% in the past 6 months and 8.61% year to date as well.

By the end of the first quarter of 2021, 81 hedge funds out of the 866 tracked by Insider Monkey held stakes in Johnson & Johnson (NYSE: JNJ) worth roughly $6.91 billion. This is compared to 81 hedge funds in the previous quarter with stakes worth approximately $5.82 billion.

You can also take a peek at 10 Best Dividend Champions to Buy Now and 10 Best Dividend Stocks to Buy According to Mason Hawkins’ Southeastern Asset Management.

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