5 Best Stocks to Buy According to Billionaire Jeffrey Talpins

4. Johnson & Johnson (NYSE:JNJ)

Element Capital Management’s Stake Value: $108,761,000

Percentage of Element Capital Management’s 13F Portfolio: 6.99%

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is an American manufacturer of consumer health products, pharmaceutical drugs, and medical devices. Billionaire Jeffrey Talpins’ Element Capital Management added 635,767 shares of Johnson & Johnson (NYSE:JNJ) to its Q4 portfolio, worth $108.7 million, accounting for about 7% of the total 13F securities. 

On April 19, Johnson & Johnson (NYSE:JNJ) declared a $1.13 per share quarterly dividend, a 6.6% increase from its prior dividend of $1.06. The dividend is payable on June 7, to shareholders of the company as of May 24. 2022 marks the 60th consecutive year of dividend increases by Johnson & Johnson (NYSE:JNJ), establishing it as a reliable dividend king. 

Johnson & Johnson (NYSE:JNJ) announced its Q1 2022 results on April 19, posting earnings per share of $2.67, above market consensus by $0.10. Although the $23.43 billion revenue grew about 5% in Q1, it fell short of analysts’ predictions by $192.16 million. 

Citi analyst Joanne Wuensch on April 20 raised the price target on Johnson & Johnson (NYSE:JNJ) to $210 from $203 and reiterated a Buy rating on the shares. The analyst told investors that the company’s Q1 results reflected a recovery across the business driven by expense and currency headwinds. The core business “seems to be gaining its footing with forward commentary fairly robust”, added the analyst.

Among the hedge funds tracked by Insider Monkey in Q4 2021, 83 funds were long Johnson & Johnson (NYSE:JNJ), compared to 88 funds in the earlier quarter. Terry Smith’s Fundsmith LLP is the biggest shareholder of the company, with a position worth $1.2 billion.