Billionaire Ray Dalio’s Top 5 Dividend Stocks

2. Johnson & Johnson (NYSE:JNJ)

Bridgewater Associates’ Stake Value: $769,836,000
Dividend Yield as of November 16: 2.60%

Johnson & Johnson (NYSE:JNJ) is a New Jersey-based pharmaceutical company. In October, Citigroup maintained a Buy rating on the stock with a $198 price target as the firm remained positive for the medical device sector and believes that the company will benefit from its medicine sales in the upcoming quarters.

Johnson & Johnson (NYSE:JNJ) has been raising its dividends consistently for the past 60 years. The company currently pays a quarterly dividend of $1.13 per share with a dividend yield of 2.60%, as of November 16.

During Q3 2022, Bridgewater Associates increased its position in Johnson & Johnson (NYSE:JNJ) by 9%. The firm currently owns over 4.7 million shares in the company, worth nearly $770 million. The company accounted for 3.89% of billionaire Ray Dalio’s portfolio.

At the end of the second quarter of 2022, 83 hedge funds tracked by Insider Monkey owned stakes in Johnson & Johnson (NYSE:JNJ), with a total value of over $6.7 billion.

Distillate Capital Partners LLC mentioned Johnson & Johnson (NYSE:JNJ) in its Q2 2022 investor letter. Here is what the firm has to say:

“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.”