5 Best Dividend Kings to Buy Now According to Hedge Funds

Page 5 of 5

1. Johnson & Johnson (NYSE: JNJ)

Number of Hedge Fund Holders: 81
Number of Years of Consistent Dividend Growth: 58
Dividend Yield: 2.5%

Johnson & Johnson (NYSE: JNJ) is a healthcare company selling products such as baby care essentials, skin health or beauty care products, and allergy products among a range of relates items in the healthcare sector. The company ranks 1st on our list of the best dividend kings to buy now according to hedge funds.

This July, Johnson & Johnson (NYSE: JNJ) commended the US government’s move to distribute about 12 million doses of the company’s vaccine against the coronavirus. Cantor Fitzgerald analyst Louise Chen has also reiterated the firm’s Overweight rating on Johnson & Johnson (NYSE: JNJ) shares alongside a $200 price target. Chen has cited the company’s reports that its vaccine seems to be effective against the Delta variant as positive news.

In the first quarter of 2021, Johnson & Johnson (NYSE: JNJ) had an EPS of $2.59, beating estimates by $0.24. The company’s revenue was $22.32 billion, up 7.88% year over year and beating estimates by $308.14 million. Johnson & Johnson (NYSE: JNJ) has also gained 5.37% in the past 6 months and 8.16% year to date.

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 a total stake value of about $5.82 billion.

You can also take a peek at 10 Extreme Dividend Stocks with Huge Upside and 30 Dividend Kings of 2021 (Part I).

Page 5 of 5