Johnson & Johnson stock: Is JNJ a good dividend stock?

NYSE:JNJ gains 0.28% on Monday to outpace the broader markets on another bearish day.
Johnson & Johnson continues to rebound from the widespread pause of its COVID-19 vaccine.
The pharmaceutical conglomerate is set to announce Q1 earnings on April 20th

Stocks Reporter FXStreet

NYSE:JNJ has had an uncharacteristically eventful week after making global headlines following some rare side effects from its COVID-19 vaccine. On Monday, Johnson & Johnson actually gained 0.28% to close the first trading day of the week at $162.69, amidst another red day for the S&P 500. Shares of Johnson & Johnson have struggled over the past year, and although the stock remains above both its 50-day and 200-day moving averages, JNJ has lagged the S&P 500 index by over 40% during the past 52-weeks.

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Johnson & Johnson found themselves at the center of a global controversy last week, as its COVID-19 vaccine was reported to have caused a rare form of blood clots in six patients. The delivery of the vaccine was halted around the world, including in Europe, South Africa, and the United States. JNJ’s goal of 100 million vaccine deliveries to the United States by the end of May could be at risk now, although many believe that the FDA and CDC will soon lift the pause in order to continue towards attaining herd immunity. In all, only about one in every million doses of Johnson & Johnson’s vaccine resulted in the rare blood clots so far.

JNJ Stock dividend

Johnson & Johnson is set to report its Q1 earnings report on Tuesday, and investors have no reason to believe it won’t be another stellar quarter from one of the largest companies in the world. JNJ currently pays a generous 2.49% dividend yield to shareholders, and with over 50 consecutive years of the company raising its dividends, it represents one of the best long-term investments available to investors.

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Stocks Reporter

FXStreet

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