Greenwood Gearhart Inc. Grows Stake in Johnson & Johnson (NYSE:JNJ)

Greenwood Gearhart Inc. grew its stake in Johnson & Johnson (NYSE:JNJ) by 1.6% during the second quarter, HoldingsChannel reports. The fund owned 71,781 shares of the company’s stock after acquiring an additional 1,108 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Johnson & Johnson were worth $10,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Norges Bank purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at $4,071,642,000. Wellington Management Group LLP grew its stake in Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd grew its stake in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares during the last quarter. Finally, Swedbank AB purchased a new position in Johnson & Johnson during the 1st quarter worth $331,178,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $164.64 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The business has a 50-day simple moving average of $159.17 and a 200-day simple moving average of $154.00. The stock has a market cap of $396.24 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share 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 quarter in the previous year, the business earned $2.80 EPS. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.21.

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.