Johnson & Johnson $JNJ Shares Sold by Arbejdsmarkedets Tillaegspension

Key Points

• Arbejdsmarkedets Tillaegspension trimmed its Johnson & Johnson stake by 7.4% in the first quarter, selling 8,626 shares and leaving it with 107,692 shares valued at about $26.3 million.
• Johnson & Johnson remains broadly held by institutions, with roughly 69.55% of shares owned by institutional investors and hedge funds, including large positions from Vanguard, State Street, Geode, and Norges Bank.
• Analysts are still generally positive on JNJ ahead of earnings, with several firms raising price targets and the stock carrying a Moderate Buy consensus target of $261.26, even as some commentary warns the shares may be richly valued after a strong rally.

Arbejdsmarkedets Tillaegspension lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,692 shares of the company's stock after selling 8,626 shares during the period. Johnson & Johnson makes up 0.7% of Arbejdsmarkedets Tillaegspension's investment portfolio, making the stock its 8th largest position. Arbejdsmarkedets Tillaegspension's holdings in Johnson & Johnson were worth $26,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Vanguard Group Inc. increased its position in shares of Johnson & Johnson by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 240,349,660 shares of the company's stock valued at $49,740,362,000 after acquiring an additional 3,731,074 shares during the last quarter. State Street Corp lifted its holdings in shares of Johnson & Johnson by 1.3% in the 4th quarter. State Street Corp now owns 133,869,843 shares of the company's stock worth $27,704,364,000 after acquiring an additional 1,663,782 shares during the last quarter. Auto Owners Insurance Co boosted its position in shares of Johnson & Johnson by 22,225.6% during the 4th quarter. Auto Owners Insurance Co now owns 69,419,308 shares of the company's stock worth $1,436,633,000 after purchasing an additional 69,108,368 shares during the period. Geode Capital Management LLC boosted its position in shares of Johnson & Johnson by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 57,953,747 shares of the company's stock worth $11,967,947,000 after purchasing an additional 1,738,292 shares during the period. Finally, Norges Bank acquired a new stake in Johnson & Johnson in the 4th quarter valued at approximately $6,924,523,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Key Johnson & Johnson News

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Analysts expect Johnson & Johnson to post a solid Q2 print, with commentary pointing to an upbeat report even as Stelara faces headwinds. Johnson & Johnson: Analysts see upbeat Q2 print despite Stelara headwinds
• Positive Sentiment: Several preview pieces say JNJ is trading near all-time highs and could still have more upside if earnings and guidance come in strong. Johnson & Johnson Q2 Preview: Stock Near All-Time Highs, Market Expert Sees Rally to $282
• Positive Sentiment: RBC raised its price target on JNJ to $287 from $265 and maintained an outperform rating, reinforcing bullish sentiment.
• Positive Sentiment: Coverage also highlighted JNJ’s strong year-to-date run and defensive healthcare appeal, which has supported investor demand ahead of earnings. Johnson & Johnson Reports Q2 Earnings Tomorrow. What Investors Should Expect.
• Neutral Sentiment: Other articles focused on JNJ as a dividend and income stock, which may support valuation but did not add new material catalysts. How to earn $500 a month from Johnson & Johnson stock ahead of Q2 earnings
• Negative Sentiment: Some commentary noted the stock’s rich valuation after a big rally, suggesting investors may be paying a premium heading into the report. What Lilly's Peer-Beating Numbers Cost You

Johnson & Johnson Stock Down 1.6%

Shares of NYSE:JNJ opened at $253.70 on Wednesday. Johnson & Johnson has a fifty-two week low of $154.80 and a fifty-two week high of $269.43. The firm's 50 day moving average price is $238.18 and its 200 day moving average price is $233.92. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. The stock has a market cap of $610.71 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.46 and a beta of 0.24.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.02. The business had revenue of $24.06 billion for the quarter, compared to analyst estimates of $23.60 billion. Johnson & Johnson had a net margin of 21.83% and a return on equity of 32.60%. The company's revenue was up 9.9% on a year-over-year basis. During the same period last year, the business earned $2.77 EPS. As a group, equities research analysts predict that Johnson & Johnson will post 11.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus raised their price target on Johnson & Johnson from $220.00 to $250.00 and gave the stock a "hold" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group increased their target price on Johnson & Johnson from $265.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Barclays raised their target price on Johnson & Johnson from $234.00 to $255.00 and gave the company an "equal weight" rating in a report on Wednesday, April 15th. TD Cowen lifted their target price on Johnson & Johnson from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Monday. Finally, Argus boosted their price target on shares of Johnson & Johnson from $240.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Twenty investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $261.26.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 10,000 shares of Johnson & Johnson stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $241.15, for a total transaction of $2,411,500.00. Following the completion of the sale, the executive vice president directly owned 114,288 shares of the company's stock, valued at $27,560,551.20. The trade was a 8.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company's stock.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company's pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

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