Te Ahumairangi Investment Management Ltd Grows Position in Johnson & Johnson $JNJ

Te Ahumairangi Investment Management Ltd grew its position in Johnson & Johnson (NYSE:JNJ) by 18.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,835 shares of the company’s stock after purchasing an additional 8,636 shares during the period. Johnson & Johnson makes up approximately 1.5% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 17th largest holding. Te Ahumairangi Investment Management Ltd’s holdings in Johnson & Johnson were worth $8,376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC raised its position in Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after purchasing an additional 6,332 shares during the period. Wealth Group Ltd. acquired a new stake in shares of Johnson & Johnson in the first quarter valued at about $218,000. Smart Money Group LLC raised its holdings in shares of Johnson & Johnson by 6.5% during the 1st quarter. Smart Money Group LLC now owns 6,687 shares of the company’s stock valued at $1,109,000 after buying an additional 407 shares during the period. United Bank lifted its position in Johnson & Johnson by 110.7% during the 1st quarter. United Bank now owns 9,279 shares of the company’s stock worth $1,539,000 after acquiring an additional 4,876 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $212,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $206.66 on Wednesday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $207.72. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The firm has a market cap of $497.91 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.19 and a beta of 0.38. The stock has a 50 day moving average of $189.43 and a 200-day moving average of $172.50.

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

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JNJ. The Goldman Sachs Group lifted their price objective on shares of Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Johnson & Johnson in a report on Friday, October 31st. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a research report on Monday, October 20th. Guggenheim raised Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $209.00 price target on shares of Johnson & Johnson in a report on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $201.05.

About Johnson & Johnson

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.