While the stock market has been recovering since the pullback last year, market volatility remains high as geopolitical tensions persist. The recent crisis in the Middle East has sparked concerns regarding broader regional instability.
The weakening economy has caused investors to cause the November rally to halt, with the Dow Jones Industrial Average index declining marginally intraday on Tuesday. The National Retail Federation expects retail sales to grow at the slowest pace in the last five years this holiday season. Walmart Inc. CEO Doug McMillon predicts the U.S. economy will enter a deflationary period soon, with grocery and general merchandise prices falling.
As markets are expected to remain volatile, these blue-chip dividend stocks could be ideal investment bets.
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Johnson & Johnson
Johnson & Johnson (NYSE:JNJ), one the most popular healthcare merchandise sellers in the world, has delivered stable market performance over the years and is a reliable dividend-paying stock. Johnson & Johnson is often regarded as a defensive stock as it primarily sells consumer staple products around the globe.
Johnson & Johnson is regarded as a Dividend King because it has raised its dividend payouts for 60 consecutive years. To date, only 48 companies have achieved this milestone. The company pays $4.76 in dividends annually, yielding an impressive 3.18%.
“With a sharpened focus on innovative medicine and medtech solutions, Johnson & Johnson is innovating across the spectrum of healthcare and is poised to deliver the medical breakthroughs of tomorrow,” Johnson & Johnson Chairman and CEO Joaquin Duato said.
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Johnson & Johnson’s net sales rose 6.8% year over year in the third quarter of 2023, while adjusted earnings per share (EPS) rose 19.3% over the same period to $2.66. Analysts expect the company’s EPS to rise by 10.2% year over year to $2.26 in the current quarter.
The company’s strong financials and dividend payouts have made it popular among investors, especially during times of market turbulence. Financial services firm Cantor Fitzgerald has…
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