Northern Trust Corp Acquires 130,645 Shares of Johnson & Johnson $JNJ

Key Points

• Northern Trust Corp increased its stake in Johnson & Johnson by 0.4% to approximately 30.94 million shares, making it the 16th largest holding in their investment portfolio.
• Johnson & Johnson reported $2.77 earnings per share for the quarter, exceeding estimates of $2.68, with a net revenue of $23.74 billion up 5.8% year-over-year.
• The company declared a quarterly dividend of $1.30 per share, with an annualized yield of 2.9%, scheduled to be paid on September 9th.

Northern Trust Corp raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,943,820 shares of the company's stock after acquiring an additional 130,645 shares during the period. Johnson & Johnson comprises about 0.8% of Northern Trust Corp's investment portfolio, making the stock its 16th largest position. Northern Trust Corp owned 1.29% of Johnson & Johnson worth $5,131,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of JNJ. Brighton Jones LLC boosted its stake in Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Hudson Value Partners LLC boosted its holdings in Johnson & Johnson by 2.5% in the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after acquiring an additional 1,022 shares during the last quarter. Capital Research Global Investors boosted its holdings in Johnson & Johnson by 114.9% in the fourth quarter. Capital Research Global Investors now owns 2,453,820 shares of the company's stock valued at $354,871,000 after acquiring an additional 1,311,736 shares during the last quarter. Capital International Inc. CA boosted its holdings in Johnson & Johnson by 18.2% in the fourth quarter. Capital International Inc. CA now owns 55,785 shares of the company's stock valued at $8,068,000 after acquiring an additional 8,588 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new position in Johnson & Johnson in the fourth quarter valued at about $955,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.2%

Shares of NYSE JNJ traded down $0.38 during mid-day trading on Monday, reaching $176.26. 9,283,816 shares of the company's stock were exchanged, compared to its average volume of 8,411,460. The firm has a market capitalization of $424.49 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 2.25 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $161.70 and a 200 day simple moving average of $158.60. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $177.57.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. Johnson & Johnson's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 earnings per share. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JNJ shares. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Royal Bank Of Canada increased their target price on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Morgan Stanley increased their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. UBS Group increased their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

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.