5 Dividend Stocks to Buy According to Joel Greenblatt’s Gotham Asset Management

2. Johnson & Johnson (NYSE:JNJ)

Dividend Yield: 2.52%
Number of Hedge Fund Holders: 88

Gotham Asset Management started investing in Johnson & Johnson (NYSE:JNJ) during the fourth quarter of 2010. In Q3 2021, the hedge fund held a stake worth $18.1 million in the company, which represented 0.73% of its portfolio.

Johnson & Johnson (NYSE:JNJ) has been paying dividends to its shareholders consecutively for the past 59 years. Currently, the company pays an annual dividend of $4.24 per share, with a dividend yield of 2.52%.

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.”