Johnson & Johnson (NYSE:JNJ) Stock Position Increased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Johnson & Johnson by 3.4% this first quarter, acquiring an additional 15,071 shares, bringing its total holdings to 464,775 shares worth approximately $77.08 million.
• Several other institutional investors, including Nuveen LLC and GAMMA Investing LLC, have also significantly increased their holdings in Johnson & Johnson during the first quarter, highlighting strong institutional interest in the stock.
• Johnson & Johnson recently reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations, along with a quarterly dividend of $1.30 per share, reflecting a yield of 3.0%.

Public Sector Pension Investment Board raised its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 464,775 shares of the company's stock after buying an additional 15,071 shares during the period. Public Sector Pension Investment Board's holdings in Johnson & Johnson were worth $77,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. Lantz Financial LLC lifted its position in Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after acquiring an additional 377 shares during the period. Sulzberger Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $453,000. Joel Isaacson & Co. LLC grew its position in Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after buying an additional 2,526 shares during the period. State of Wyoming grew its position in Johnson & Johnson by 205,580.0% during the fourth 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 lifted its holdings in Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after purchasing an additional 2,529 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded down $1.03 during trading on Tuesday, reaching $172.79. The company had a trading volume of 7,872,042 shares, compared to its average volume of 9,340,518. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market capitalization of $416.14 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $174.76. The stock's fifty day moving average price is $160.00 and its 200 day moving average price is $157.90.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 earnings per share. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current 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 of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's payout ratio is presently 55.61%.

Analysts Set New Price Targets

JNJ has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. 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 price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Raymond James Financial cut their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

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.