Envestnet Asset Management Inc. Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Envestnet Asset Management Inc. boosted its position in Johnson & Johnson (NYSE:JNJ) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,542,668 shares of the company’s stock after buying an additional 128,374 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Johnson & Johnson were worth $656,961,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth about $4,390,037,000. Raymond James Financial Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $1,339,878,000. Vanguard Group Inc. boosted its holdings in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares during the period. Finally, Amundi raised its position in shares of Johnson & Johnson by 16.2% during the fourth quarter. Amundi now owns 11,930,183 shares of the company’s stock valued at $1,698,984,000 after buying an additional 1,660,458 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on JNJ shares. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday. Raymond James lowered their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Johnson & Johnson Price Performance

Shares of JNJ opened at $153.03 on Friday. The company has a market cap of $368.77 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a 50 day moving average of $159.75 and a two-hundred day moving average of $155.91.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 earnings per share. As a group, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

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.