5 Best Dividend Stocks According to John Overdeck And David Siegel’s Two Sigma Advisors

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88
Dividend Yield as of January 18: 2.52%

An American healthcare company, Johnson & Johnson (NYSE:JNJ) has been increasing its dividend for the past 59 years consistently. The company’s dividend growth rate for the past five years stands at 6%.

In Q3 2021, Two Sigma Advisors increased its stake in Johnson & Johnson (NYSE:JNJ) by 16%. The hedge fund held shares worth roughly $528 million in the company, which represented 1.36% of John Overdeck and David Siegel’s portfolio. This December, Credit Suisse lifted its price target on Johnson & Johnson (NYSE:JNJ) to $200, while keeping an Outperform rating on the shares as the company’s November sales grew by 15.4% versus the firm’s estimates of 5.7%.

Of the 867 elite funds tracked by Insider Monkey, 88 hedge funds held stakes in Johnson & Johnson (NYSE:JNJ) in Q3, the same as in the previous quarter. The total value of these stakes is over $6.87 billion.

Distillate Capital mentioned Johnson & Johnson (NYSE:JNJ) in its Q2 2021 investor letter. Here is what the firm has to say:

“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.”

You can also take a look at 10 High Dividend Stocks for 2022 and 10 Dividend Aristocrats to Buy for 2022

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