Victory Capital Management Inc. grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,743,955 shares of the company’s stock after acquiring an additional 158,821 shares during the quarter. Johnson & Johnson accounts for approximately 0.5% of Victory Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Victory Capital Management Inc.’s holdings in Johnson & Johnson were worth $408,520,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nordea Investment Management AB increased its stake in shares of Johnson & Johnson by 88.0% in the second quarter. Nordea Investment Management AB now owns 17,222,162 shares of the company’s stock valued at $2,382,514,000 after buying an additional 8,062,204 shares during the period. BlackRock Inc. increased its stake in shares of Johnson & Johnson by 0.6% in the second quarter. BlackRock Inc. now owns 193,714,044 shares of the company’s stock valued at $27,242,005,000 after buying an additional 1,168,129 shares during the period. California Public Employees Retirement System increased its stake in shares of Johnson & Johnson by 8.9% in the third quarter. California Public Employees Retirement System now owns 10,616,780 shares of the company’s stock valued at $1,580,626,000 after buying an additional 864,547 shares during the period. MUFG Securities EMEA plc increased its stake in shares of Johnson & Johnson by 124.7% in the second quarter. MUFG Securities EMEA plc now owns 1,506,456 shares of the company’s stock valued at $211,853,000 after buying an additional 836,139 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Johnson & Johnson by 290.9% in the second quarter. Handelsbanken Fonder AB now owns 1,114,004 shares of the company’s stock valued at $156,662,000 after acquiring an additional 829,053 shares during the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Kathryn E. Wengel sold 16,115 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $153.52, for a total transaction of $2,473,974.80. Following the completion of the sale, the executive vice president now directly owns 66,658 shares of the company’s stock, valued at approximately $10,233,336.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.
Several brokerages recently commented on JNJ. ValuEngine upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Cantor Fitzgerald upped their target price on Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Raymond James reiterated a “buy” rating on shares of Johnson & Johnson in a report on Friday. Stifel Nicolaus cut Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, Credit Suisse Group increased their price target on Johnson & Johnson from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Johnson & Johnson currently has an average rating of “Buy” and an average price target of $164.93.
NYSE JNJ opened at $146.36 on Friday. The firm has a market capitalization of $385.30 billion, a P/E ratio of 23.01, a PEG ratio of 3.04 and a beta of 0.69. The business has a fifty day simple moving average of $145.51 and a 200 day simple moving average of $146.57. Johnson & Johnson has a 12 month low of $109.16 and a 12 month high of $157.00. The company has a current ratio of 1.48, a quick ratio of 1.24 and a debt-to-equity ratio of 0.51.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Sunday, October 18th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.22. The business had revenue of $21.08 billion during the quarter, compared to analyst estimates of $20.15 billion. Johnson & Johnson had a return on equity of 34.64% and a net margin of 21.01%. Johnson & Johnson’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 EPS. As a group, sell-side analysts predict that Johnson & Johnson will post 7.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 24th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, November 23rd. Johnson & Johnson’s dividend payout ratio is presently 46.54%.
Johnson & Johnson Profile
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.
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