Moors & Cabot Inc. Increases Stake in Johnson & Johnson (NYSE:JNJ)

Moors & Cabot Inc. grew its holdings in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 129,679 shares of the company’s stock after acquiring an additional 2,236 shares during the quarter. Johnson & Johnson comprises 1.7% of Moors & Cabot Inc.’s portfolio, making the stock its 4th largest holding. Moors & Cabot Inc.’s holdings in Johnson & Johnson were worth $23,019,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after buying an additional 3,358,478 shares during the last quarter. GQG Partners LLC grew its position in shares of Johnson & Johnson by 64.4% during the first quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock worth $1,151,931,000 after acquiring an additional 2,547,378 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Johnson & Johnson by 37.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock worth $1,179,219,000 after acquiring an additional 1,805,632 shares during the period. Swiss National Bank boosted its stake in Johnson & Johnson by 14.0% during the 1st quarter. Swiss National Bank now owns 11,402,516 shares of the company’s stock valued at $2,020,868,000 after purchasing an additional 1,396,500 shares during the period. Finally, Bridgewater Associates LP increased its stake in shares of Johnson & Johnson by 40.3% in the first quarter. Bridgewater Associates LP now owns 4,345,002 shares of the company’s stock valued at $770,065,000 after purchasing an additional 1,247,260 shares during the period. 68.59% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.6 %

NYSE:JNJ opened at $173.46 on Thursday. The stock has a fifty day simple moving average of $167.44 and a 200 day simple moving average of $171.39. The firm has a market capitalization of $453.51 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.57. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its earnings results on Tuesday, October 18th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company had revenue of $23.79 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same period last year, the company posted $2.60 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson declared that its Board of Directors has approved a share repurchase plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be issued a $1.13 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.61%. Johnson & Johnson’s payout ratio is currently 62.95%.

Insider Activity

In related news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total value of $3,761,128.00. Following the completion of the sale, the vice president now directly owns 114,676 shares of the company’s stock, valued at approximately $18,864,202. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total value of $3,761,128.00. Following the transaction, the vice president now owns 114,676 shares in the company, valued at approximately $18,864,202. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thibaut Mongon sold 35,246 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $171.18, for a total transaction of $6,033,410.28. Following the sale, the vice president now owns 40,133 shares of the company’s stock, valued at $6,869,966.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,795 shares of company stock worth $20,230,174. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JNJ. Morgan Stanley decreased their price objective on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. SVB Leerink reduced their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Sanford C. Bernstein dropped their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Barclays started coverage on shares of Johnson & Johnson in a report on Monday, October 17th. They issued an “equal weight” rating and a $175.00 price objective for the company. Finally, Citigroup dropped their target price on Johnson & Johnson from $201.00 to $198.00 in a report on Wednesday, October 5th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.25.

Johnson & Johnson Profile

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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.

Further Reading

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

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