Johnson & Johnson (NYSE:JNJ) is Cullinan Associates Inc.’s 8th Largest Position

Cullinan Associates Inc. increased its position in Johnson & Johnson (NYSE:JNJGet Rating) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 194,970 shares of the company’s stock after acquiring an additional 8,479 shares during the period. Johnson & Johnson comprises approximately 2.1% of Cullinan Associates Inc.’s holdings, making the stock its 8th largest position. Cullinan Associates Inc.’s holdings in Johnson & Johnson were worth $34,609,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Johnson & Johnson during the 4th quarter valued at $4,172,929,000. BlackRock Inc. grew its position in shares of Johnson & Johnson by 2.6% during the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock valued at $34,217,654,000 after acquiring an additional 4,982,885 shares during the period. GQG Partners LLC grew its position in shares of Johnson & Johnson by 1,109.4% during the 4th quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock valued at $676,375,000 after acquiring an additional 3,627,424 shares during the period. Vanguard Group Inc. grew its position in shares of Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after acquiring an additional 3,358,478 shares during the period. Finally, State Street Corp grew its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock valued at $24,750,004,000 after acquiring an additional 2,492,359 shares during the period. 68.59% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 1.5 %

JNJ opened at $167.60 on Monday. The firm has a 50-day simple moving average of $168.96 and a two-hundred day simple moving average of $174.29. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The company has a market capitalization of $440.65 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 2.99 and a beta of 0.61. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the prior year, the firm earned $2.48 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Analysts forecast that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio is 65.79%.

Johnson & Johnson announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JNJ. Daiwa Capital Markets began coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating for the company. SVB Leerink cut their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. UBS Group cut their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Finally, Citigroup dropped their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.78.

About Johnson & Johnson

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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