5 Best Stocks to Buy for Investment

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 84

Beta Value: 0.57

Founded in 1886, Johnson & Johnson (NYSE:JNJ) stands as a prominent American corporation renowned for its pioneering advancements in medical devices, pharmaceuticals, and consumer packaged goods. The multinational company boasts an impressive 61-year track record of consistent dividend growth, currently offering a quarterly dividend of $1.19 per share. As of November 28, the stock presents a compelling dividend yield of 3.15%.

On October 17, Johnson & Johnson (NYSE:JNJ) announced adjusted earnings and revenue that exceeded the forecasts of Wall Street, subsequently increasing its full-year guidance due to robust sales in both its pharmaceutical and medical devices divisions. The pharmaceutical company also disclosed net income of $4.31 billion, equivalent to $1.69 per share. This figure remained consistent with the net income of $4.31 billion, or $1.62 per share, reported for the corresponding period in the previous year.

In the third quarter of 2023, the number of hedge funds tracked by Insider Monkey with holdings in Johnson & Johnson (NYSE:JNJ) declined to 84, down from 88 in the prior quarter. The collective investments by these hedge funds surpass a total value of $4.15 billion. A leading hedge fund investor in Johnson & Johnson (NYSE:JNJ) is Bridgewater Associates, managed by Ray Dalio, with a substantial stake valued at approximately $424.3 million.