Victory Capital Management Inc. Has $480.37 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Victory Capital Management Inc. boosted its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 16.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,896,564 shares of the company's stock after buying an additional 413,037 shares during the period. Johnson & Johnson accounts for approximately 0.5% of Victory Capital Management Inc.'s holdings, making the stock its 27th largest holding. Victory Capital Management Inc. owned approximately 0.12% of Johnson & Johnson worth $480,366,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of JNJ. BIP Wealth LLC raised its holdings in shares of Johnson & Johnson by 7.0% during the 1st quarter. BIP Wealth LLC now owns 8,198 shares of the company's stock valued at $1,360,000 after buying an additional 533 shares during the period. Bridgewater Advisors Inc. raised its holdings in shares of Johnson & Johnson by 6.8% during the 1st quarter. Bridgewater Advisors Inc. now owns 23,809 shares of the company's stock valued at $3,712,000 after buying an additional 1,516 shares during the period. Grant Street Asset Management Inc. raised its holdings in shares of Johnson & Johnson by 11.7% during the 1st quarter. Grant Street Asset Management Inc. now owns 3,771 shares of the company's stock valued at $625,000 after buying an additional 394 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in shares of Johnson & Johnson by 1.2% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 353,188 shares of the company's stock valued at $58,573,000 after buying an additional 4,083 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Johnson & Johnson by 30.4% during the 1st quarter. Larson Financial Group LLC now owns 24,741 shares of the company's stock valued at $4,103,000 after buying an additional 5,769 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ traded up $1.12 during midday trading on Friday, reaching $164.10. The stock had a trading volume of 3,649,006 shares, compared to its average volume of 8,122,578. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The firm's 50 day moving average price is $154.10 and its 200-day moving average price is $154.84. The company has a market capitalization of $394.82 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.21 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 33.07% and a net margin of 25.00%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. On average, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on JNJ shares. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday. UBS Group restated a "buy" rating and set a $190.00 price objective (up from $180.00) on shares of Johnson & Johnson in a report on Thursday. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Bank of America lifted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.11.

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.