Warren Buffett Nearly Doubles Berkshire’s Stake in Johnson & Johnson (JNJ)
Warren Buffett's Berkshire Hathaway on Monday detailed the changes in its stock holdings with the SEC, which included nearly doubling its stake in health products giant Johnson & Johnson ( JNJ ) .
According to the filing, Berkshire owned some 41.3 million shares of JNJ at the end of June, up from around 23.9 million shares in March. In 2008 and 2009, Buffett had sold a substantial amount of its JNJ shares to help finance other investments.
At the end of 2007, Berkshire held approximately 64.3 million shares JNJ.
Johnson & Johnson shares rose 64 cents, or +1.1%, in premarket trading Tuesday.
The Bottom Line
We have been recommending shares of JNJ since Oct.8, 2009, when the stock was trading at $60.71. The company has a 3.72% dividend yield, based on last night's closing stock price of $58.01.
Johnson & Johnson ( JNJ ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.