Top Dividend Stocks to Consider Now: Johnson & Johnson, Chevron and Merck & Co

Sometimes you are just looking for a good dividend stock of a solid company to get your portfolio stabilized a bit.  We present to you Johnson & Johnson (NYSE:JNJ), Chevron Corporation (NYSE:CVX) and Merck & Co., Inc. (NYSE:MRK).
WallStNation.com searched for dividend stocks that were yielding greater than 3%, had a payout ratio of less than 50% (to weed out companies that were paying too much and not re-investing in itself) and had a P/E ratio for the current fiscal year less than 20 (to search for some value).

(via WallStNation.com) Johnson & Johnson (NYSE:JNJ) currently boasts a strong dividend yield of 3.05% with the stock closing at $64.36 on Friday.  The forward looking P/E is pegged at 14.1 and is one of the higher in the company’s industry, potentially representing a little less value on the stock, but the dividend yield helps to offset that.  J&J has surprised 5 quarters running and the current estimate of $0.97 seems a reasonable target for the company to hit.  J&J’s stock recently broke out of trading range that had its resistance set at about $61 (purple line in chart below).  The stock is currently locked in an uptrend with no current short term resistance level showing (bullish sign), although if it pulls back to the $62.50 range, that could be a great buying opportunity.

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