Gyroscope Capital Management Group LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,793 shares of the company’s stock after purchasing an additional 119 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in Johnson & Johnson were worth $743,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of JNJ. Moneta Group Investment Advisors LLC increased its stake in shares of Johnson & Johnson by 90,144.4% in 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 acquiring an additional 54,326,454 shares during the period. Geode Capital Management LLC increased its stake in shares of Johnson & Johnson by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 47,958,583 shares of the company’s stock worth $8,456,643,000 after acquiring an additional 294,671 shares during the period. Morgan Stanley boosted 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Johnson & Johnson by 15.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,277,774 shares of the company’s stock worth $5,171,919,000 after buying an additional 3,849,148 shares in the last quarter. Finally, Norges Bank purchased a new stake in Johnson & Johnson during the fourth quarter worth $4,609,399,000. Institutional investors and hedge funds own 67.57% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Johnson & Johnson in a report on Tuesday, May 30th. They set a “buy” rating and a $185.00 price target on the stock. TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a report on Friday, May 19th. Stifel Nicolaus increased their target price on shares of Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. Raymond James increased their target price on shares of Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $187.00 price objective on shares of Johnson & Johnson in a research report on Friday, July 21st. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Hold” and an average target price of $171.80.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. The company had revenue of $25.53 billion for the quarter, compared to analysts’ expectations of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 37.01%. Johnson & Johnson’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.59 EPS. On average, sell-side analysts predict that Johnson & Johnson will post 10.76 earnings per share for the current year.
Johnson & Johnson Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.82%. Johnson & Johnson’s payout ratio is currently 96.36%.
Insiders Place Their Bets
In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kathryn E. Wengel sold 12,465 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 65,934 shares in the company, valued at approximately $10,549,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Peter Fasolo sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,163 shares of company stock worth $7,928,856. Corporate 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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