Hedge Funds Are Crazy About These Dow Stocks

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Despite a decrease in capital to $4.68 billion held by 86 hedge funds (among those that we track) from $5.02 billion owned by 91 funds,  Pfizer Inc. (NYSE:PFE) occupied the fourth spot. Ric Dillon’s Diamond Hill Capital owned 10.61 million shares valued at $330.59 million at the end of the final quarter of 2014. The $208.2 billion bio-pharmaceutical company is up nearly 4.62% over the last 52 weeks. Pfizer Inc. (NYSE:PFE) recently announced that it would buy the specialty generics firm, Hospira, Inc. (NYSE:HSP) for $17 billion.

Johnson & Johnson (NYSE:JNJ) is the fifth company on this. A total of 76 hedge funds disclosed owning shares of the company with the aggregate value of their investments in the company amounting to $4.98 billion. This compares with the 78 funds with $6.01 billion worth of stock a quarter earlier. Donald Yacktman‘s Yacktman Asset Management decreased its stake in the company by 51% to 8.61 million shares valued at $900.49 million, according to its last 13F. Down by about 4.20% year to date, Johnson & Johnson (NYSE:JNJ)’s fourth quarter Earnings per Share (EPS) of $1.27 beat estimates by $0.01. However, revenue of $18.25 billion came in $310 million short of estimates.

Disclosure: none

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