Norges Bank Purchases New Holdings in Johnson & Johnson (NYSE:JNJ)

Norges Bank acquired a new position in shares of Johnson & Johnson (NYSE:JNJFree Report) in the fourth quarter, Holdings Channel reports. The fund acquired 25,977,042 shares of the company’s stock, valued at approximately $4,071,642,000. Johnson & Johnson comprises 0.7% of Norges Bank’s investment portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson in the fourth quarter valued at about $40,000. Tower View Wealth Management LLC raised its stake in shares of Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after buying an additional 165 shares in the last quarter. WFA Asset Management Corp lifted its holdings in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $45,000. Finally, Altshuler Shaham Ltd raised its position in Johnson & Johnson by 37.8% in the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock worth $49,000 after acquiring an additional 87 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JNJ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research note on Thursday, May 16th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Morgan Stanley lowered their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Get Our Latest Report on Johnson & Johnson

Johnson & Johnson Price Performance

NYSE:JNJ opened at $151.32 on Tuesday. The firm has a market cap of $364.18 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $152.11 and its two-hundred day moving average is $155.12.

Johnson & Johnson (NYSE:JNJGet Free Report) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.68 earnings per share. Research analysts expect that Johnson & Johnson will post 10.64 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 29.68%.

About Johnson & Johnson

(Free Report)

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.

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

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