Johnson & Johnson $JNJ Position Increased by Shelton Capital Management

Shelton Capital Management increased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 18.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,387 shares of the company’s stock after buying an additional 13,626 shares during the quarter. Shelton Capital Management’s holdings in Johnson & Johnson were worth $13,348,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Vanguard Group Inc. grew its position in shares of Johnson & Johnson by 1.3% during the second quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock worth $36,209,060,000 after acquiring an additional 3,085,180 shares during the last quarter. Geode Capital Management LLC lifted its position in Johnson & Johnson by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock valued at $9,227,988,000 after purchasing an additional 1,225,676 shares during the last quarter. Norges Bank acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $4,877,174,000. Northern Trust Corp grew its position in Johnson & Johnson by 0.4% in the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock worth $5,131,723,000 after purchasing an additional 130,645 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Johnson & Johnson by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 23,802,503 shares of the company’s stock valued at $3,635,832,000 after purchasing an additional 620,039 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JNJ. Loop Capital set a $190.00 price objective on Johnson & Johnson in a research report on Wednesday, October 22nd. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. raised their price target on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, September 16th. Raymond James Financial upped their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 target price on the stock in a research note on Monday, October 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $201.05.

Johnson & Johnson Trading Down 0.3%

Shares of Johnson & Johnson stock opened at $206.89 on Monday. The business has a fifty day simple moving average of $191.33 and a 200-day simple moving average of $173.72. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $207.81. The firm has a market cap of $498.46 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion for the quarter. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.5%. Johnson & Johnson’s payout ratio is 50.19%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.