5 Best Stocks To Invest In For Financial Stability

3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 84

Johnson & Johnson (NYSE:JNJ) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. The company has been raising its dividend payouts for 61 years and the stock has a 5-year dividend CAGR of 6.03%.

Earlier this December, Citi analyst Joanne Wuensch raised her price target on Johnson & Johnson (NYSE:JNJ) to $205 from $198 and maintained a Buy rating on the shares. The analyst states that “many headwinds remain” for the North America medical supplies and technology group in 2023, but these should ease in the second half of next year, alleviating operating margin pressures

At the end of Q4 2022, 84 hedge funds in Insider Monkey’s database owned stakes in Johnson & Johnson (NYSE:JNJ), down from 85 in the previous quarter. The collective value of these stakes is over $5.57 billion. Among these hedge funds, John Overdeck and David Siegel’s Two Sigma Advisors is a prominent stakeholder in Q4.

Here’s what Distillate Capital Partners LLC said about Johnson & Johnson (NYSE:JNJ) in its Q2 2022 investor letter:

“Johnson & Johnson was among the 2 largest trims at around 1% each. Each stock was up 1% in the quarter compared to the 16% price decline for the S&P 500 and the positions were reduced as the valuations became somewhat less appealing, though still attractive enough to warrant inclusion.”