Legendary Value Investor Joel Greenblatt Loves These 5 Stocks

4. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) makes and sells healthcare products. According to 13F filings, the hedge fund of Joel Greenblatt owned 102,556 shares in the firm at the end of the fourth quarter of 2021 worth $17.5 million, representing 0.56% of the portfolio. The fund slashed its position in the company by 9% in the fourth quarter compared to filings for the previous quarter. 

Johnson & Johnson (NYSE:JNJ) has been a constant feature in the Greenblatt portfolio, with minor exceptions, since the fourth quarter of 2010. The fund first purchased a stake in the firm comprising nearly 4,000 shares at an average price of around $63 per share. The share price has since climbed above $163. The fund has added to the holding in two of the last four quarters, reducing it in the other two. 

At the end of the fourth quarter of 2021, 83 hedge funds in the database of Insider Monkey held stakes worth $7.3 billion in Johnson & Johnson (NYSE:JNJ), compared to 88 in the previous quarter worth $6.8 billion.