Johnson & Johnson (NYSE:JNJ) Shares Sold by Foster Group Inc.

Foster Group Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,668 shares of the company’s stock after selling 532 shares during the period. Foster Group Inc.’s holdings in Johnson & Johnson were worth $1,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Johnson & Johnson in the fourth quarter valued at $4,071,642,000. Wellington Management Group LLP boosted its position in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd increased its position in Johnson & Johnson by 59.0% during the second 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 period. Finally, Swedbank AB acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $331,178,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, August 5th. The Goldman Sachs Group reduced their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. TD Cowen dropped their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Price Performance

JNJ traded up $1.63 on Friday, hitting $165.86. 7,971,017 shares of the company were exchanged, compared to its average volume of 7,271,470. The business’s fifty day moving average is $155.68 and its 200 day moving average is $153.51. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $165.98. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a market capitalization of $399.17 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 2.99%. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson Profile

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.