Johnson & Johnson (NYSE:JNJ) is Ninety One UK Ltd's 6th Largest Position

Ninety One UK Ltd trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,923,045 shares of the company's stock after selling 389,740 shares during the period. Johnson & Johnson makes up about 3.2% of Ninety One UK Ltd's holdings, making the stock its 6th largest holding. Ninety One UK Ltd owned about 0.29% of Johnson & Johnson worth $1,148,118,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of JNJ. Norges Bank purchased a new position in Johnson & Johnson in the fourth quarter valued at about $4,390,037,000. Raymond James Financial Inc. bought a new stake in Johnson & Johnson during the fourth quarter worth approximately $1,339,878,000. GAMMA Investing LLC grew its position in Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after buying an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp grew its position in Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after acquiring an additional 4,559,147 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.76 on Wednesday. The stock has a market capitalization of $374.77 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 2.35 and a beta of 0.41. The firm's fifty day simple moving average is $153.67 and its two-hundred day simple moving average is $154.25. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. 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 released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. As a group, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.34%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on JNJ shares. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price objective for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Barclays lowered their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Bank of America dropped their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Profile

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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