Titleist Asset Management LTD. increased its stake in Johnson & Johnson (NYSE: JNJ – Get Rating) by 15.8% in Q1, according to its latest filing with the SEC. The institutional investor owned 22,457 shares of the company after acquiring an additional 3,057 shares during the period. The holdings of Titleist Asset Management LTD. in Johnson & Johnson were worth $3,980,000 when it was last filed with the SEC.
Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in the stock. BlackRock Inc. increased its stake in Johnson & Johnson by 2.6% in the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company worth $34,217,654,000 after purchasing an additional 4,982,885 shares in the last quarter. State Street Corp increased its stake in Johnson & Johnson shares by 1.8% during the fourth quarter. State Street Corp now owns 144,677,639 shares of the company valued at $24,750,004,000 after acquiring an additional 2,492,359 shares in the last quarter. Geode Capital Management LLC increased its stake in Johnson & Johnson shares by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 44,405,610 shares of the company valued at $7,576,867,000 after acquiring an additional 1,084,834 shares in the last quarter. Norges Bank bought a new position in shares of Johnson & Johnson during the fourth quarter, valued at approximately $4,172,929,000. Finally, Legal & General Group Plc increased its stake in Johnson & Johnson shares by 5.8% during the fourth quarter. Legal & General Group Plc now owns 17,420,146 shares in the company valued at $2,980,062,000 after acquiring an additional 948,306 shares in the last quarter. 68.78% of the shares are currently held by hedge funds and other institutional investors.
Johnson & Johnson trades down 1.6%
NYSE: JNJ opened at $171.79 on Friday. The company’s 50-day moving average price is $175.41 and its 200-day moving average price is $174.52. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt ratio of 0.37. The stock has a market capitalization of $451.67 billion, a price/earnings ratio of 25.01, a PEG ratio of 3.29 and a beta of 0.59.
Johnson & Johnson Inc (NYSE:JNJ – Get Rating) last released its quarterly results on Tuesday, July 19. The company reported EPS of $2.59 for the quarter, beating consensus analyst estimates of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company posted revenue of $24.02 billion for the quarter, versus $23.85 billion expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $2.48. The company’s revenue for the quarter increased 3.0% year over year. On average, stock research analysts expect Johnson & Johnson to post earnings per share of 10.05 for the current fiscal year.
Johnson & Johnson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6. Investors of record on Tuesday, August 23 will receive a dividend of $1.13. This represents an annualized dividend of $4.52 and a yield of 2.63%. The ex-dividend date is Monday, August 22. Johnson & Johnson’s dividend payout ratio is currently 65.79%.
Insider buying and selling
In related news, CAO Robert J. Decker sold 8,462 shares of the company in a trade that took place on Thursday, May 26. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the sale, the chief accountant now owns 15,473 shares of the company, valued at $2,785,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Johnson & Johnson news, Executive Vice President Kathryn E. Wengel sold 40,000 shares in a trade that took place on Friday, June 10. The shares were sold at an average price of $173.00, for a total value of $6,920,000.00. Following the transaction, the executive vice president now directly owns 71,311 shares of the company, valued at $12,336,803. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CAO Robert J. Decker sold 8,462 shares in a trade that took place on Thursday, May 26. The stock was sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following completion of the transaction, the chief accounting officer now owns 15,473 shares of the company, valued at $2,785,140. The disclosure of this sale can be found here. 0.35% of the shares are currently held by company insiders.
Changes to analyst ratings
Several brokerages have recently commented on JNJ. Raymond James raised his price target on Johnson & Johnson shares from $195.00 to $196.00 and gave the company an “outperform” rating in a Wednesday, April 20 research note. Credit Suisse Group raised its price target on Johnson & Johnson shares from $200.00 to $205.00 and gave the stock an “outperform” rating in a Wednesday, April 20 research note. Wells Fargo & Company raised its price target on Johnson & Johnson stock from $190.00 to $195.00 and gave the stock an “overweight” rating in a Wednesday, July 13 research note. SVB Leerink reduced its price target on Johnson & Johnson shares from $200.00 to $194.00 in a Wednesday July 20 research note. Finally, UBS Group lowered its price target on Johnson & Johnson shares from $185.00 to $180.00 in a Thursday, July 21 research note. Four analysts gave the stock a hold rating, five gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $189.89.
About Johnson & Johnson
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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.
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