Shell Asset Management Co. lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,355 shares of the company’s stock after purchasing an additional 19,203 shares during the quarter. Johnson & Johnson accounts for approximately 1.3% of Shell Asset Management Co.’s investment portfolio, making the stock its 4th biggest holding. Shell Asset Management Co.’s holdings in Johnson & Johnson were worth $65,542,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in JNJ. Fundsmith Equity Fund L.P. acquired a new position in Johnson & Johnson during the second quarter worth $552,762,000. Peoples Financial Services CORP. increased its holdings in Johnson & Johnson by 20.4% during the third quarter. Peoples Financial Services CORP. now owns 30,668 shares of the company’s stock worth $4,237,000 after buying an additional 5,190 shares during the last quarter. Sather Financial Group Inc increased its holdings in Johnson & Johnson by 3.7% during the second quarter. Sather Financial Group Inc now owns 11,051 shares of the company’s stock worth $1,341,000 after buying an additional 399 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Johnson & Johnson during the third quarter worth $829,000. Finally, Foundation Resource Management Inc. acquired a new position in Johnson & Johnson during the third quarter worth $208,000. 66.16% of the stock is currently owned by institutional investors and hedge funds.
NYSE:JNJ opened at $138.06 on Friday. Johnson & Johnson has a one year low of $118.62 and a one year high of $148.99. The firm has a market capitalization of $370.40 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.47.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, January 22nd. The company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.02. Johnson & Johnson had a net margin of 18.75% and a return on equity of 35.63%. The firm had revenue of $20.39 billion for the quarter, compared to the consensus estimate of $20.27 billion. During the same period in the previous year, the company earned $1.74 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 8.57 earnings per share for the current fiscal year.
Johnson & Johnson declared that its board has approved a stock buyback plan on Monday, December 17th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 26th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, February 25th. This represents a $3.60 annualized dividend and a dividend yield of 2.61%. Johnson & Johnson’s dividend payout ratio is currently 44.01%.
In related news, CAO Ronald A. Kapusta sold 3,643 shares of the company’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $147.31, for a total value of $536,650.33. Following the transaction, the chief accounting officer now directly owns 13,641 shares in the company, valued at $2,009,455.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Prince purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average price of $134.37 per share, for a total transaction of $268,740.00. Following the completion of the purchase, the director now directly owns 28,520 shares of the company’s stock, valued at approximately $3,832,232.40. The disclosure for this purchase can be found here. 0.22% of the stock is owned by insiders.
JNJ has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Tuesday, November 20th. ValuEngine upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Thursday, December 13th. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $153.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Finally, Barclays restated an “equal weight” rating and set a $135.00 target price (down from $137.00) on shares of Johnson & Johnson in a report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Johnson & Johnson currently has an average rating of “Hold” and an average price target of $142.81.
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About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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