Principal Financial Group Inc. Has $459.36 Million Position in Johnson & Johnson (NYSE:JNJ)

Principal Financial Group Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the second quarter, HoldingsChannel reports. The fund owned 3,142,839 shares of the company’s stock after selling 30,261 shares during the period. Principal Financial Group Inc.’s holdings in Johnson & Johnson were worth $459,357,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Johnson & Johnson in the 4th quarter valued at $4,071,642,000. Wellington Management Group LLP grew its holdings in Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after buying an additional 3,139,499 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after buying an additional 241,799 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after buying an additional 975,485 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. The Goldman Sachs Group reduced their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. TD Cowen reduced their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 5th. Finally, Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Trading Up 1.0 %

JNJ opened at $165.86 on Friday. The business has a 50 day simple moving average of $155.34 and a two-hundred day simple moving average of $153.45. The firm has a market capitalization of $399.17 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.63 and a beta of 0.52. 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 one year low of $143.13 and a one year high of $165.98.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 2.99%. Johnson & Johnson’s payout ratio is 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.