TIAA Trust National Association Boosts Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• TIAA Trust National Association has increased its stake in Johnson & Johnson by 19.3%, acquiring an additional 67,624 shares, bringing its total holdings to 418,599 shares valued at approximately $69.42 million.
• Several institutional investors, including GAMMA Investing LLC and Bank of New York Mellon Corp, significantly increased their positions in Johnson & Johnson during the first quarter of the year.
• Johnson & Johnson reported $2.77 earnings per share for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend of $1.30 per share with a yield of 3.1%.

TIAA Trust National Association raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 19.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 418,599 shares of the company's stock after acquiring an additional 67,624 shares during the quarter. TIAA Trust National Association's holdings in Johnson & Johnson were worth $69,420,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares during the last quarter. Northern Trust Corp raised its stake in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after purchasing an additional 2,825,626 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on JNJ shares. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Royal Bank Of Canada raised their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Stock Up 2.2%

NYSE JNJ traded up $3.75 during trading hours on Monday, reaching $171.08. 12,677,035 shares of the company's stock traded hands, compared to its average volume of 8,831,392. 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 50-day simple moving average of $157.46 and a 200 day simple moving average of $156.74. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $171.19. The firm has a market cap of $412.02 billion, a PE ratio of 18.30, a PEG ratio of 2.13 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors 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 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's dividend payout ratio 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.