Vanguard Group Inc. Buys 1,170,120 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Vanguard Group Inc. increased its holdings in Johnson & Johnson, now owning approximately 233.96 million shares valued at $38.8 billion, making it 19th in their portfolio.
• Johnson & Johnson reported earnings per share of $2.77, surpassing expectations and generating quarterly revenue of $23.74 billion, up 5.8% year-over-year.
• The company has announced a quarterly dividend of $1.30, resulting in an annualized yield of 3.0% and a payout ratio of 55.61%.

Vanguard Group Inc. raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 0.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 233,962,679 shares of the company's stock after purchasing an additional 1,170,120 shares during the period. Johnson & Johnson accounts for approximately 0.7% of Vanguard Group Inc.'s portfolio, making the stock its 19th biggest holding. Vanguard Group Inc. owned approximately 9.72% of Johnson & Johnson worth $38,800,371,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $36,000. Highline Wealth Partners LLC raised its holdings in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson in the first quarter valued at about $49,000. Capital A Wealth Management LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson during the first quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.5%

Johnson & Johnson stock traded up $0.82 during mid-day trading on Thursday, hitting $171.41. 9,314,579 shares of the company's stock were exchanged, compared to its average volume of 9,367,092. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $172.18. The stock has a 50 day moving average of $158.89 and a two-hundred day moving average of $157.27. The stock has a market cap of $412.81 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.17 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

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 analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates 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 was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $2.82 EPS. As a group, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Analyst Ratings Changes

Several research firms recently commented on JNJ. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Guggenheim restated a "neutral" rating and set a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Wall Street Zen cut Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Raymond James Financial lowered their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, UBS Group upped their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus target price 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.