Warren Buffett's Berkshire Hathaway boosted its stake in Johnson & Johnson by 73 percent between March 31 and June 30, adding 17.4 million shares worth just over $1 billion at today's closing price of $58.01.
Berkshire's holdings in J&J have ranged from a high of 61.75 million shares as recently as September 30, 2008 to a low of 23.89 million shares at the end of this year's first quarter.
In his annual letter to shareholders in February, Buffett said that his largest sales of 2009, including Johnson & Johnson, helped pay for other non-stock purchases, including its acquisition of the Burlington Northern Santa Fe freight railroad.
But he said the sales were not motivated by a belief the stocks would fall in price. "Charlie (Munger) and I believe that all of these stocks will likely trade higher in the future."