Warren Buffett has a well-earned reputation for spotting businesses with unusually durable competitive advantages. By buying and holding shares of these businesses over long periods, his diversified conglomerate Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has delivered returns far superior to those of the benchmark S 500 index over the past 59 years.

So when the Oracle of Omaha and his investing team completely exit a stock position, Wall Street and retail investors alike tend to notice. In the third quarter of 2023, Berkshire curiously decided to sell its entire stakes in Johnson Johnson (NYSE: JNJ) and Proctor Gamble (NYSE: PG). Here's why these two blue-chip dividend stocks are still superb buys for most investors.

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Source Fool.com