Thrivent Financial for Lutherans Has $238.95 Million Position in Johnson & Johnson (NYSE:JNJ)

Thrivent Financial for Lutherans lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 31.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,634,863 shares of the company’s stock after purchasing an additional 394,518 shares during the quarter. Johnson & Johnson comprises 0.5% of Thrivent Financial for Lutherans’ portfolio, making the stock its 23rd biggest holding. Thrivent Financial for Lutherans’ holdings in Johnson & Johnson were worth $238,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in Johnson & Johnson by 16.4% during the fourth 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 increased its holdings in shares of 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 acquiring an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after acquiring an additional 1,831,751 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Johnson & Johnson by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after purchasing an additional 1,829,257 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Johnson & Johnson by 5.8% during the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after purchasing an additional 437,637 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s 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 sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Down 0.4 %

JNJ stock opened at $164.11 on Friday. 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 $161.30 and a 200 day simple moving average of $154.20. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $394.96 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.80 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen dropped their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

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.