447,964 Shares in Johnson & Johnson (NYSE:JNJ) Purchased by Maj Invest Holding A S

Maj Invest Holding A S purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 447,964 shares of the company’s stock, valued at approximately $70,212,000. Johnson & Johnson comprises approximately 2.0% of Maj Invest Holding A S’s portfolio, making the stock its 18th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower View Wealth Management LLC grew its position in Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares during the last quarter. Keener Financial Planning LLC bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp grew its position in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $45,000. Finally, Altshuler Shaham Ltd grew its position in Johnson & Johnson by 37.8% during the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America reduced their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Thursday, May 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Morgan Stanley dropped their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, May 6th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $151.25 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $364.01 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 2.49 and a beta of 0.55. The stock has a fifty day moving average of $151.88 and a 200 day moving average of $155.12. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97.

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

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 30.92%.

Johnson & Johnson 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.