Billionaire Ray Dalio is Buying These 5 Stocks

3. Johnson & Johnson (NYSE:JNJ)

Ray Dalio’s Bridgewater Associates Stake Value: $465 million

Bridgewater Associates 13F Portfolio: 2.98%

Number of Hedge Fund Holders: 88

The pharmaceutical giant Johnson & Johnson (NYSE:JNJ) is among the companies that gained Ray Dalio’s confidence during the second quarter as Bridgewater Associates raised its stake in JNJ by 65% to 2.82 million shares. JNJ is considered a dividend king amid its extensive dividend growth history. Its shares are up close to 5% year to date.

Johnson & Johnson saw an increase in smart money confidence. It was in 88 hedge funds’ portfolios at the end of June compared to 81 positions in the previous quarter.