Despite its reputation as a platform for the trading of meme stocks, Robinhood Markets does in fact help retail investors trade all sorts of stocks and other commodities. As a service to its users, it compiles and regularly updates a list of the Top 100 stocks held by its users. While some stocks on the list are best described as meme stocks, there are others that are popular because they've consistently outperformed. These include Microsoft (MSFT -1.84%), Pfizer (PFE -0.12%), and Johnson & Johnson (JNJ 0.67%). 

This trio is made up of well-known large-cap companies that offer dividends. These companies also happen to constantly evolve, which is a great reason to consider them long-term buys. Microsoft, once just a software company, is now a diversified technology company seeing an increased business through its cloud platforms. Pfizer could have as many as 19 new therapies over the next 18 months, and Johnson & Johnson is shedding its consumer healthcare segment to become more profitable.

Let's find out a bit more about these three buy-and-hold Robinhood stocks.

1. Microsoft's head is up in the clouds

Microsoft has so many different facets to its business that even when a major segment is down, its other segments manage to perform well enough to keep revenue growing. Its stock is up more than 20% to start the year, and over the past 10 years, it has delivered a total return of 1,090%, nearly five times what the S&P 500 averaged over the same timeframe.

In the fiscal 2023 second quarter (ended Dec. 31), the company's personal computing segment revenue fell 19% year over year. This isn't surprising, as so many people bought new computers or upgraded their systems during pandemic lockdowns, creating tough comparisons. Fewer people need new computers or upgraded systems right now. The company's overall Q2 revenue still rose 2% year over year, to $52.7 billion in the quarter, on the strength of increased Microsoft Cloud revenue hit $27.1 billion, which was up 22% over the same period last year.

The company is a big proponent of artificial intelligence. In January, Microsoft said it was spending an additional $10 billion on it partnership with OpenAI and that company's popular artificial intelligence tool ChatGPT. Microsoft's Azure cloud platform, which has more than 200 products and services, is already seeing some benefit from OpenAI. Its revenue, along with the company's other cloud services revenue, rose 31% year over year in the second quarter. 

Microsoft pays out a decent dividend for a tech stock. The company raised its quarterly dividend by 8.8% in the first quarter of fiscal 2023 to $0.68 per share, equaling a yield of 0.94%. It has increased its dividend for 11 consecutive years.

2. Pfizer will reward patience

Pfizer's share prices are down more than 19% so far this year, sending its price-to-earnings ratio (P/E) below 8. That's because, after a record year in revenue in 2022, the company faces headwinds that will make it difficult to repeat that performance.

Pfizer reported fourth-quarter revenue of $24.2 billion, up 2% year over year, and earnings per share (EPS) of $0.87, up 48% over Q4 2021. The company had annual revenue of $100.3 billion, up 23%, and annual EPS of $5.47, up 42%. But this year, it is expecting revenue from COVID-19 vaccine Comirnaty and COVID-19 therapy Paxlovid to tumble.

In the short term, the company's revenue will likely take a hit this year. However, in the long term, Pfizer has 110 projects in its pipeline and management said it expects to launch 19 new therapies in the next 18 months. 

Pfizer's quarterly per-share dividend is $0.41, which equals a yield of 3.96%, more than double the S&P 500 average. The company has boosted its dividend for 12 consecutive years, and the payout ratio of 28.6% leaves room for continued increases.

3. Johnson & Johnson trimming down to beef up profits

Even after it divests itself of its underperforming consumer healthcare segment this year, you're not likely to see huge growth from healthcare giant Johnson & Johnson. What you do get is a business that performs as well, or even better, in down markets as it does in boom times. 

The stock price is down a little more than 5% to start the year. The company is still facing negative publicity after its recently formed subsidiary, LTL Management LLC, refiled for Chapter 11 bankruptcy protection to obtain approval of a reorganization plan that will settle, for $8.9 billion, all claims that the company's talc products caused cancer among users. 

In the long run, though, because of its massive size, nothing seems to faze Johnson & Johnson's business. The company increased revenue for seven consecutive years, including a 1.3% bump last year to $94.9 billion. It is predicting revenue to climb to between $96.9 billion and $97.9 billion this year, another jump of 4.5%, at minimum. 

The company operates in three segments, consumer healthcare, medtech solutions, and pharmaceuticals, though consumer healthcare is being spun off into a separate public company called Kenvue later this year. Consumer healthcare reported $14.9 billion in revenue last year, down 0.5%. It was the only segment to see a decline in revenue.

The medtech segment should benefit from the addition of Abiomed, which makes Impella heart pumps. Johnson & Johnson spent $16.6 billion to acquire the company, but the deal should be accretive to Johnson & Johnson's bottom line by 2024, it said.

The company's quarterly dividend of $1.13 a share brings an above-average yield of around 2.7%. It has boosted its dividend annually for 60 consecutive years, and the payout ratio is 68%, leaving room for continued increases. Another increase is likely to come soon, as it has traditionally raised its dividend in the second quarter.