NovaPoint Capital LLC increased its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,581 shares of the company’s stock after buying an additional 833 shares during the quarter. Johnson & Johnson comprises 1.4% of NovaPoint Capital LLC’s holdings, making the stock its 23rd largest position. NovaPoint Capital LLC’s holdings in Johnson & Johnson were worth $3,500,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its holdings in shares of Johnson & Johnson by 90,144.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after purchasing an additional 54,326,454 shares during the period. Norges Bank purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $4,609,399,000. Morgan Stanley boosted its position in shares of Johnson & Johnson by 12.0% during the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after purchasing an additional 4,521,062 shares during the period. Nordwand Advisors LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $785,273,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Johnson & Johnson by 15.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock worth $5,171,919,000 after purchasing an additional 3,849,148 shares during the period. Hedge funds and other institutional investors own 67.57% of the company’s stock.
Insider Transactions at Johnson & Johnson
In related news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the completion of the transaction, the executive vice president now directly owns 65,934 shares of the company’s stock, valued at $10,549,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
Johnson & Johnson Price Performance
Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Tuesday, April 18th. The company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.17. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The business had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.61 billion. During the same period in the prior year, the company earned $2.67 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current year.
Johnson & Johnson Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Monday, May 22nd. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.13. Johnson & Johnson’s dividend payout ratio is 99.58%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on JNJ. TheStreet cut Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. Raymond James decreased their price objective on Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating for the company in a research note on Wednesday, April 19th. Credit Suisse Group lifted their price objective on shares of Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Finally, Atlantic Securities decreased their target price on Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $169.77.
Johnson & Johnson Profile
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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