5 Best Low Risk Stocks to Buy Now

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88 

On October 21, health authorities in the United States granted approval to the COVID-19 booster shots developed by Johnson & Johnson (NYSE:JNJ) and Moderna. The booster shots were approved for people aged 18 years or older who were administered the initial vaccine dose about two months ago. The same day, the company had declared a quarterly dividend of $1.06 per share, in line with previous. The forward yield was 2.6%. 

There are other drug-related positives for the firm as well. On October 15, Johnson & Johnson (NYSE:JNJ) had announced that authorities in Canada had granted approval for OPSYNVI, a drug developed by the firm to treat pulmonary arterial hypertension. 

At the end of the second quarter of 2021, 88 hedge funds in the database of Insider Monkey held stakes worth $7 billion in Johnson & Johnson (NYSE:JNJ), up from 81 in the previous quarter worth $6.9 billion.