Avanza Fonder AB Buys New Shares in Johnson & Johnson (NYSE:JNJ)

Avanza Fonder AB purchased a new position in Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 258,749 shares of the company’s stock, valued at approximately $37,420,000. Johnson & Johnson comprises about 1.1% of Avanza Fonder AB’s investment portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of JNJ. Vinva Investment Management Ltd raised its holdings in Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after buying an additional 7,110 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Johnson & Johnson by 5.3% in the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after purchasing an additional 9,309 shares during the last quarter. Meridian Investment Counsel Inc. increased its stake in shares of Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after buying an additional 3,710 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Johnson & Johnson in the third quarter worth about $69,859,000. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Bank of America decreased their price target on shares of Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Guggenheim boosted their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.29.

Johnson & Johnson Stock Performance

JNJ stock opened at $147.03 on Friday. The stock’s 50 day simple moving average is $148.51 and its 200 day simple moving average is $155.96. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The stock has a market capitalization of $353.99 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Buying and Selling

In related news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Company 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.