Destination Wealth Management Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Destination Wealth Management boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,404 shares of the company’s stock after acquiring an additional 6,556 shares during the quarter. Johnson & Johnson accounts for 1.3% of Destination Wealth Management’s portfolio, making the stock its 26th biggest holding. Destination Wealth Management’s holdings in Johnson & Johnson were worth $38,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in Johnson & Johnson during the 4th quarter valued at about $4,071,642,000. Wellington Management Group LLP boosted its holdings in shares of Johnson & Johnson by 16.4% in the fourth 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% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Johnson & Johnson by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after purchasing an additional 241,799 shares during the period. Finally, California Public Employees Retirement System raised its position in Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, August 5th. TD Securities dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Trading Up 1.1 %

Shares of NYSE:JNJ opened at $164.13 on Monday. The business’s 50-day moving average is $153.92 and its 200 day moving average is $153.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $167.78. The firm has a market capitalization of $395.01 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.80 earnings per share. On average, research analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

About Johnson & Johnson

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.