Johnson & Johnson (NYSE:JNJ) Shares Bought by Allstate Corp

Allstate Corp boosted its position in Johnson & Johnson (NYSE:JNJ) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,940 shares of the company’s stock after purchasing an additional 668 shares during the period. Allstate Corp’s holdings in Johnson & Johnson were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Connors Investor Services Inc. boosted its position in shares of Johnson & Johnson by 7.6% in the 1st quarter. Connors Investor Services Inc. now owns 6,877 shares of the company’s stock worth $1,088,000 after buying an additional 485 shares in the last quarter. Spirepoint Private Client LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $15,578,000. Cooper Haims Advisors LLC lifted its stake in Johnson & Johnson by 6.4% in the 1st quarter. Cooper Haims Advisors LLC now owns 3,358 shares of the company’s stock valued at $531,000 after buying an additional 201 shares in the last quarter. Nicolet Advisory Services LLC grew its holdings in Johnson & Johnson by 2.3% during the 1st quarter. Nicolet Advisory Services LLC now owns 11,869 shares of the company’s stock valued at $1,808,000 after buying an additional 265 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Johnson & Johnson by 2.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,833,641 shares of the company’s stock worth $289,974,000 after buying an additional 43,466 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent research reports. Sanford C. Bernstein lifted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. 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 research report on Thursday, July 18th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Johnson & Johnson Stock Down 1.1 %

NYSE JNJ traded down $1.69 during trading on Tuesday, reaching $152.55. The company’s stock had a trading volume of 716,279 shares, compared to its average volume of 7,284,792. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $367.14 billion, a PE ratio of 9.62, a PEG ratio of 2.85 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The business has a 50-day moving average price of $148.42 and a 200-day moving average price of $153.24.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.79%. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the prior year, the company posted $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.25%. Johnson & Johnson’s payout ratio is 30.92%.

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.