KLP Kapitalforvaltning AS Grows Position in Johnson & Johnson (NYSE:JNJ)

KLP Kapitalforvaltning AS grew its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,083,614 shares of the company's stock after purchasing an additional 35,800 shares during the period. Johnson & Johnson makes up approximately 0.9% of KLP Kapitalforvaltning AS's holdings, making the stock its 16th largest holding. KLP Kapitalforvaltning AS's holdings in Johnson & Johnson were worth $179,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Syverson Strege & Co boosted its holdings in shares of Johnson & Johnson by 4.9% during the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock valued at $202,000 after acquiring an additional 65 shares during the last quarter. MBA Advisors LLC lifted its position in Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares during the period. Sovereign Financial Group Inc. boosted its holdings in Johnson & Johnson by 1.8% in the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after purchasing an additional 69 shares during the last quarter. Nabity Jensen Investment Management Inc grew its position in Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares during the period. Finally, Jackson Grant Investment Advisers Inc. raised its stake in Johnson & Johnson by 0.5% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company's stock valued at $2,151,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Up 2.2%

Shares of Johnson & Johnson stock traded up $3.54 during trading on Tuesday, reaching $167.90. The company's stock had a trading volume of 9,277,637 shares, compared to its average volume of 8,151,378. 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 company has a market cap of $403.99 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.09 and a beta of 0.41. The company has a 50-day simple moving average of $154.29 and a two-hundred day simple moving average of $155.12. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results 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. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the firm earned $2.82 EPS. The firm's revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.10%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Analyst Ratings Changes

Several research firms have recently commented on JNJ. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Barclays increased their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Guggenheim reiterated a "neutral" rating and issued a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $172.87.

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.