China Universal Asset Management Co. Ltd. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,319 shares of the company's stock after selling 1,678 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Johnson & Johnson were worth $3,038,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised 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. Geode Capital Management LLC increased its holdings in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after buying an additional 1,561,036 shares in the last quarter. Northern Trust Corp grew its stake in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Norges Bank bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP grew its stake in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after purchasing an additional 431,205 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on JNJ shares. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Raymond James Financial decreased their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $170.88.
Get Our Latest Stock Report on JNJ
Johnson & Johnson Stock Performance
Shares of NYSE:JNJ traded up $0.28 during trading on Wednesday, hitting $156.07. The stock had a trading volume of 6,140,694 shares, compared to its average volume of 8,049,705. The stock has a 50-day simple moving average of $153.67 and a two-hundred day simple moving average of $154.25. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $375.52 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.35 and a beta of 0.41. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.33%. Johnson & Johnson's payout ratio is 57.84%.
Johnson & Johnson Profile
(
Free Report)
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.
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