Johnson & Johnson (NYSE:JNJ) Shares Purchased by ING Groep NV

Key Points

• ING Groep NV has increased its stake in Johnson & Johnson by 116.3% during the first quarter, owning over 1.1 million shares valued at approximately $188.2 million.
• Johnson & Johnson reported a 2nd quarter EPS of $2.77, beating estimates and showing a 5.8% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $1.30 per share, with a current yield of 3.1%.

ING Groep NV raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 116.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,135,124 shares of the company's stock after purchasing an additional 610,314 shares during the period. Johnson & Johnson accounts for approximately 1.3% of ING Groep NV's portfolio, making the stock its 18th biggest holding. ING Groep NV's holdings in Johnson & Johnson were worth $188,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Lantz Financial LLC raised its holdings in shares of Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after acquiring an additional 377 shares during the period. Sulzberger Capital Advisors Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth about $453,000. Joel Isaacson & Co. LLC boosted its holdings in Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after purchasing an additional 2,526 shares during the last quarter. State of Wyoming grew its stake in shares of Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after buying an additional 10,279 shares during the period. Finally, Range Financial Group LLC increased its holdings in shares of Johnson & Johnson by 18.9% during the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after buying an additional 2,529 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Trading Up 1.6%

JNJ opened at $167.33 on Monday. The firm's fifty day moving average price is $157.46 and its 200 day moving average price is $156.74. The stock has a market capitalization of $402.99 billion, a PE ratio of 17.90, a P/E/G ratio of 2.13 and a beta of 0.41. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 earnings per share. As a group, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.1%. Johnson & Johnson's payout ratio is presently 55.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JNJ. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Barclays upped their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Company 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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