Nvest Financial LLC lifted its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,509 shares of the company’s stock after purchasing an additional 954 shares during the period. Johnson & Johnson accounts for about 3.1% of Nvest Financial LLC’s holdings, making the stock its 11th biggest position. Nvest Financial LLC’s holdings in Johnson & Johnson were worth $3,024,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 1.2% during the third quarter. Vanguard Group Inc. now owns 245,340,875 shares of the company’s stock worth $40,078,885,000 after buying an additional 2,815,655 shares during the last quarter. State Street Corp increased its holdings in Johnson & Johnson by 0.6% during the third quarter. State Street Corp now owns 141,886,311 shares of the company’s stock worth $23,178,548,000 after buying an additional 803,013 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Johnson & Johnson by 90,144.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after buying an additional 54,326,454 shares during the last quarter. Geode Capital Management LLC increased its holdings in Johnson & Johnson by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 47,958,583 shares of the company’s stock worth $8,456,643,000 after buying an additional 294,671 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after buying an additional 4,521,062 shares during the last quarter. 67.57% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on JNJ. Atlantic Securities reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. UBS Group began coverage on shares of Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price for the company. Raymond James reduced their target price on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research note on Wednesday, April 19th. Citigroup began coverage on shares of Johnson & Johnson in a research note on Tuesday, May 30th. They issued a “buy” rating and a $185.00 target price for the company. Finally, Credit Suisse Group lifted their target price on shares of Johnson & Johnson from $168.00 to $170.00 in a research note on Friday, May 5th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $171.57.
Johnson & Johnson Trading Up 0.7 %
Johnson & Johnson (NYSE:JNJ – Free Report) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.17. The business had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.61 billion. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. Johnson & Johnson’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.67 earnings per share. Analysts expect that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, May 22nd. Johnson & Johnson’s payout ratio is presently 99.58%.
Insider Transactions at Johnson & Johnson
In other news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of the sale, the executive vice president now directly owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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