5 Dividend Stocks to Buy for Financial Freedom

1. Johnson & Johnson (NYSE:JNJ)

Dividend Yield as of May 12: 2.56%

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ), the American multinational healthcare corporation, is one of the most notable dividend stocks. 2022 marked the 60th annual dividend increase at Johnson & Johnson (NYSE:JNJ), which merits its inclusion in our list of dividend stocks to buy for financial freedom. 

On April 19, Johnson & Johnson (NYSE:JNJ) declared a $1.13 per share quarterly dividend, a 6.6% increase from its prior dividend of $1.06. The dividend is payable on June 7, to shareholders of the company as of May 24. Johnson & Johnson (NYSE:JNJ)’s dividend yield on May 12 stood at 2.56%. 

Citi analyst Joanne Wuensch on April 20 reiterated a Buy recommendation on Johnson & Johnson (NYSE:JNJ) and raised the price target on the shares to $210 from $203. The company’s Q1 results reflected a recovery across the business balanced by expense and currency headwinds, the analyst told investors. The core business “seems to be gaining its footing with forward commentary fairly robust”, said the analyst.

According to Insider Monkey’s Q4 database, 83 hedge funds were bullish on Johnson & Johnson (NYSE:JNJ), with collective stakes worth $7.3 billion. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is a prominent shareholder of the  company, with 4.8 million shares worth $829.3 million.

You can also take a look at 10 Best Micro-Cap Stocks to Buy According to Hedge Funds and 10 Growth ETFs to Buy Now. 

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