Nuveen LLC Takes $1.37 Billion Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Nuveen LLC acquired a new stake in Johnson & Johnson (NYSE: JNJ), purchasing 8,256,079 shares valued at approximately $1.37 billion, which represents 0.34% of the company's total shares.
• Recent quarterly earnings revealed Johnson & Johnson reported an EPS of $2.77, surpassing estimates and indicating a year-over-year revenue increase of 5.8%.
• The company declared a quarterly dividend of $1.30 per share, equating to an annualized dividend yield of 3.0%, with the ex-dividend date set for August 26th.

Nuveen LLC acquired a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,256,079 shares of the company's stock, valued at approximately $1,369,188,000. Nuveen LLC owned 0.34% of Johnson & Johnson at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC raised its position in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Johnson & Johnson in the 1st quarter worth about $49,000. Harvest Fund Management Co. Ltd bought a new position in Johnson & Johnson during the 1st quarter valued at approximately $52,000. Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $50,000. Finally, Pandora Wealth Inc. purchased a new stake in Johnson & Johnson during the 1st quarter valued at $65,000. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent analyst reports. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Guggenheim reaffirmed a "neutral" rating and issued a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Nine equities research 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded up $0.65 during trading hours on Monday, hitting $173.98. 7,208,197 shares of the company's stock traded hands, compared to its average volume of 9,486,962. The company has a fifty day simple moving average of $159.63 and a 200-day simple moving average of $157.79. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $174.60. The stock has a market capitalization of $418.99 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.21 and a beta of 0.41. 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 posted 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 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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