Shum Financial Group Inc. Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Shum Financial Group Inc. bought a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,557 shares of the company’s stock, valued at approximately $2,305,000. Johnson & Johnson makes up approximately 1.9% of Shum Financial Group Inc.’s portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in Johnson & Johnson by 20,130.0% during the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after acquiring an additional 3,437,397 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Johnson & Johnson by 506.9% in the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after purchasing an additional 3,244,862 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares during the last quarter. Swedbank AB bought a new position in Johnson & Johnson during the 1st quarter valued at approximately $331,178,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after acquiring an additional 1,831,751 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ remained flat at $154.54 during trading hours on Tuesday. The stock had a trading volume of 327,210 shares, compared to its average volume of 7,045,696. The company has a market capitalization of $372.07 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The firm’s 50 day moving average is $159.98 and its 200 day moving average is $156.36. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the firm posted $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts anticipate that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.21%. Johnson & Johnson’s dividend payout ratio is 71.78%.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Citigroup lifted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Guggenheim increased their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $175.94.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.