5 Blue Chip Stocks with Dividends

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Dividend Yield (as of March 21): 2.41%

Johnson & Johnson (NYSE:JNJ) is a biopharmaceutical firm that offers a range of healthcare and medical products around the globe and ranks 1st on our list of blue-chip stocks that pay dividends. The New Jersey-based firm has grown its dividend for 59 years in a row and offers a 2.41% yield as of March 21.

BofA analyst Geoff Meacham in early March noted that he was bullish on Johnson & Johnson’s (NYSE:JNJ) growth prospects in the near term, and liked its ‘safe haven’ status given the current macro and geopolitical environment. He reinstated coverage of the firm with a ‘Neutral’ rating and a $185 price target.

In the fourth quarter, 83 hedge funds held positions in Johnson & Johnson (NYSE:JNJ) with a combined value of $7.38 billion. Fundsmith LLP was the top shareholder in the biopharmaceutical firm in Q4 2021, holding 7.21 million shares worth $1.23 billion.

Johnson & Johnson (NYSE:JNJ) reported earnings per share of $2.13 in Q4 2021, exceeding consensus estimates by $0.01. Revenue for the fourth quarter was recorded at $24.80 billion, signaling a jump of 10.36% year-on-year, but falling below analysts’ forecasts by $485.39 million.

Distillate Capital talked about Johnson & Johnson (NYSE:JNJ) in its Q2 2021 investor letter. The fund said:

“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 Bill Gates’ Stock Portfolio: Top 15 Picks and 10 Best Healthcare Dividend Stocks.

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