LGT Group Foundation Has $62.76 Million Holdings in Johnson & Johnson (NYSE:JNJ)

LGT Group Foundation lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 14.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 429,369 shares of the company’s stock after selling 69,995 shares during the quarter. Johnson & Johnson makes up approximately 0.9% of LGT Group Foundation’s investment portfolio, making the stock its 27th largest holding. LGT Group Foundation’s holdings in Johnson & Johnson were worth $62,757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $31,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $43,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $44,000. Finally, Grayhawk Investment Strategies Inc. boosted its holdings in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after buying an additional 259 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. TD Cowen cut 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 increased their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $167.38 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $158.40 and its two-hundred day simple moving average is $153.85. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock has a market cap of $402.92 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results 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. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same period last year, the firm posted $2.80 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 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.