Johnson & Johnson (NYSE:JNJ) Holdings Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its holdings in Johnson & Johnson by 0.3%, bringing its total ownership to $217.33 million, which accounts for approximately 0.6% of its investment portfolio.
• Several institutional investors significantly boosted their stakes in Johnson & Johnson in the first quarter, with GAMMA Investing LLC increasing its position by 24,450.4%.
• Johnson & Johnson recently reported quarterly earnings of $2.77 EPS exceeding estimates, along with a quarterly dividend of $1.30 per share, reflecting a dividend yield of 3.09%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,310,482 shares of the company's stock after acquiring an additional 4,347 shares during the period. Johnson & Johnson comprises approximately 0.6% of Zurcher Kantonalbank Zurich Cantonalbank's portfolio, making the stock its 21st largest position. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Johnson & Johnson worth $217,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. GAMMA Investing LLC boosted its stake in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after buying an additional 7,185,977 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Johnson & Johnson by 26.4% in the first 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 buying an additional 4,842,582 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after acquiring an additional 4,559,147 shares during the period. Northern Trust Corp boosted its stake in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after buying an additional 2,825,626 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on JNJ shares. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Down 0.1%

NYSE JNJ traded down $0.15 during mid-day trading on Wednesday, reaching $167.96. 1,920,906 shares of the company's stock traded hands, compared to its average volume of 9,034,078. 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 has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a fifty day simple moving average of $156.65 and a 200-day simple moving average of $156.22. The company has a market cap of $404.13 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 2.12 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion during 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%. The business's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 earnings per share. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared 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 3.10%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.

About Johnson & Johnson

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.