Morningstar Investment Management LLC Takes $716,000 Position in Johnson & Johnson $JNJ

Key Points

• Morningstar Investment Management LLC acquired a new position in Johnson & Johnson worth approximately $716,000 during the second quarter, purchasing 4,686 shares.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, with a yield of 2.7%, to be paid on December 9th to shareholders of record on November 25th.
• Analyst ratings for Johnson & Johnson have improved, with revisions of price targets up to $210.00 from various firms, indicating a consensus rating of "Moderate Buy."

Morningstar Investment Management LLC bought a new position in Johnson & Johnson (NYSE:JNJ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,686 shares of the company's stock, valued at approximately $716,000.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. GFG Capital LLC acquired a new stake in Johnson & Johnson during the second quarter valued at $35,000. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC acquired a new stake in shares of Johnson & Johnson in the first quarter worth about $48,000. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson during the 1st quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson during the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JNJ shares. Weiss Ratings upgraded Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Tuesday, September 16th. HSBC increased their price target on Johnson & Johnson from $188.00 to $210.00 in a research report on Tuesday, September 30th. Raymond James Financial increased their price target on Johnson & Johnson from $174.00 to $209.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.59.

Johnson & Johnson Price Performance

JNJ opened at $191.79 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.40. The company has a fifty day simple moving average of $180.09 and a 200 day simple moving average of $164.52. The stock has a market cap of $461.90 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. On average, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio is 55.61%.

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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