VERITY Wealth Advisors raised its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,477 shares of the company’s stock after buying an additional 414 shares during the quarter. Johnson & Johnson comprises 1.3% of VERITY Wealth Advisors’ investment portfolio, making the stock its 17th largest holding. VERITY Wealth Advisors’ holdings in Johnson & Johnson were worth $1,327,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 1.4% in the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after purchasing an additional 3,358,478 shares in the last quarter. BlackRock Inc. raised its stake in shares of Johnson & Johnson by 0.4% in the first quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock valued at $35,587,638,000 after purchasing an additional 777,837 shares in the last quarter. State Street Corp grew its position in Johnson & Johnson by 1.8% in the fourth 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. Wellington Management Group LLP grew its position in Johnson & Johnson by 0.8% in the first quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after acquiring an additional 265,330 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Johnson & Johnson by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after acquiring an additional 509,818 shares during the period. 68.59% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Price Performance
Johnson & Johnson stock opened at $163.28 on Thursday. The business’s 50-day simple moving average is $168.25 and its 200 day simple moving average is $174.16. The stock has a market cap of $429.29 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 2.97 and a beta of 0.61. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. 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 declared that its board has authorized a stock repurchase plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Johnson & Johnson Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio is 65.79%.
Analysts Set New Price Targets
A number of brokerages have weighed in on JNJ. Morgan Stanley lowered their price target on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Citigroup decreased their target price on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. SVB Leerink decreased their target price on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Finally, Wells Fargo & Company increased their target price on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $189.78.
Johnson & Johnson Company Profile
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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